Question

Roxanne has $3,000 that she plans to invest into an account that earns 7% simple interest.Assuming she makes no additional deposits or withdrawals, how much interest will Roxanne earn after 15 years? *

Answer 1

Answer:

$3150

Step-by-step explanation:

I = P • R • T

Intrest Equals Principal Amout times Rate of Intrest times Amount of Time

P is our Principal amount of $3,000

R is our Rate of 7%

T is the time span of  years

Now if we plug in the values and solve the equation we get $3150 dollars in intrest.