Question

How much interest does a $482 investment earn at 5% over 3 years?

Answer 1

Answer: $72.30

Explanation:

`I=P*r*t`

P is the principal amount, $482.00.

r is the interest rate, 5% per year, or in decimal form, 5/100=0.05.

t is the time involved, 3 years

Answer 2

The answer you're looking for is $72.30. To find this answer multiply $482 by 0.05 (five percent). From there you'll get 24.1, then multiply that by 3 (three years), and you'll get $72.30/ Hope that helps! :)