Question

3. Find the interest generated from: $1,350 at 4% for 3 years. O $1,512 O $16,200 0 $17,550 O $162 27​

Answer 1

$162

Explanation:

The computation of the interest generated is shown below:

= Principal × rate of interest × number of years

= $1,350 × 4% × 3 years

= $162

For determining the interest generated we simply applied the above formula