Question

Mr. Sobieski invests $800 at an interest rate of 3% for 12 years. What is the interest earned after 12 years?

Answer 1

288

Explanation:

To calculate the interest earned after 12 years, you can use the simple interest formula:

Interest = Principal x Rate x Time

Given that Mr. Sobieski has invested $800 at an interest rate of 3% for 12 years, we can plug these values into the formula:

Interest = $800 x 0.03 x 12

Interest = $288

Therefore, the interest earned after 12 years would be $288.