Question

Sam invests $6,000 in a savings account at 6%
for 3 years. How much did he earn in interest?

Answer 1

answer: $1,080

explanation: interest = principal x rate x time

>> interest = 6,000 x 0.06 x 3

after multiplying, you get 1,080, which is the simple interest

**tip: turn the rate/percent into a decimal, then multiply