Answer:
The amount of interest Coach Cliffman earned after 3 years is $108.
Step-by-step explanation:
The equation for simple interest is A = P(1 + rt). To determine the revenue earned, subtract the principal amount ($1800) from the total accured amount (principal + interest). The equation for simple interest is A = P(1 + rt), P meaning principal interest, r being the rate of interest per year in decimal form, and t as time in years.
Let P = $1800, r = .02, and t = 3 and you'll end up with a total accrued amount of $1908. Finally, subtract 1908-1800 to get your answer of $108.
