Answer:
Step-by-step explanation:
To find the interest take 5,000 and divide it by .03 Make sure you use.03 because it is 3% not 30.
Answer:
The interest is $150 and the amount is $5150.
Step-by-step explanation:
STEP 1: Find an interest by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.
In this example P = $5000, i = 3% and t = 1 years, so
I=P⋅i⋅t
I=5000⋅0.03⋅1
I=150=interest
STEP 2: Find an amount by using the formula A=P+I.
Since P = $5000 and I = $150 we have
A=P+I
A=5000+150
A=5150
