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16. Interest earned: ? Principal: $1250 Interest rate: 3% Time: 4 years How did they earned

16. Interest earned: ? Principal: $1250 Interest rate: 3% Time: 4 years How did they earned
asked 37.2k views
1 vote
16. Interest earned:

?
Principal: $1250
Interest rate: 3%
Time: 4 years
How did they earned

asked
User Nikolay Botev
by
8.1k points

1 Answer

4 votes


\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$1250\\ r=rate\to 3\%\to (3)/(100)\dotfill &0.03\\ t=years\dotfill &4 \end{cases} \\\\\\ I=(1250)(0.03)(4)\implies I=150

answered
User Prossblad
by
8.1k points
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