Find the simple interest earned after 2 years on an investment of $3,000 at 4.5% interest earned annually.

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asked Aug 22, 2018 57.4k views

1 Answer

LeonardChallis · Answer 1 · 2018-08-27T07:56:15+0000

We know, Interest = P * R * T / 100
S.I. = 3000 * 4.5 * 2 /100
S.I. = 27000 / 100
S.I. = 270

In short, Your Answer would be $270

Hope this helps!

Find the simple interest earned after 2 years on an investment of $3,000 at 4.5% interest earned annually.

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