Question

if money savings account earned 8% interest per annum, how much interest would be earned on 150.00 over 3 years?

Answer 1

$36

Explanation:

Use the simple interest formula, I = prt

Plug in the interest rate, original amount of money, and number of years:

I = prt

I = (150)(0.08)(3)

I = 36

So, $36 in interest would be made