Question

Correct answers only please!

Latrell has $80 in a savings account. The interest rate is 5% per year and is not compounded. How much interest will he earn in 3 years?

Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

Answer 1

Answer:

Use the given formula :

I = P × R × t

I = 80 × 5/100 × 3

I = $ 12