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Edward deposited ​$5,500 into a savings account 3 years ago. The simple interest rate is 3​%. How much money did Edward earn in​ interest

Edward deposited ​$5,500 into a savings account 3 years ago. The simple interest rate is 3​%. How much money did Edward earn in​ interest
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Edward deposited ​$5,500 into a savings account 3 years ago. The simple interest rate is 3​%. How much money did Edward earn in​ interest

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User BFunc
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2 Answers

3 votes
I think the answer could be 8,000 I’m not good at explaining things but if you solve it it’s 8,000
answered
User Bryce Cutt
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8.0k points
5 votes
Im pretty sure he earned 495 in interest, because you take 5,500 time .03 (from the three percent) and you get 165- then multiply by three because of the three years (495)
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User Floyd Wilburn
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9.2k points
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