Answer:
Therefore the amount of interest that coach Cliffman will earn after 3 years is = $216
Step-by-step explanation:
Simple interest Formula:
[tex]I=Prt[/tex]
[tex]I[/tex] = Interest
P= Principal
r= rate of interest
t= Time in year
Given that,
Cliffman made a deposit of $1800 into a account that earns 2% annual simple interest.
P=$18,000, r=2%=0.02 and t=3 years
The interest [tex]I=Prt[/tex]
=1800×0.02×3
=$216
Therefore the amount of interest that coach Cliffman will earn after 3 years is = $216
