Question

HELP

Jeanell
deposited $550 into a savings account that earned 3.25% simple interest per year,
how much interest will she earn after 3 years with no deposits or withdrawals?
A. $603.63
B. $553.25
C. $53.63
D. $17.88

Answer 1

$53.63
because I have had this question on an exam and it was the correct answer out of all of the answers above.
hope this helped you

Answer 2

Finding interest:
550 / 100 = 5.5 5.5 x 3.25 = 17.875 17.875 x 3 = 53.625 or 53.63
So the answer is C.
Hope this helped!