Leonard makes a $3000 deposit for 15 years at a simple interest rate of 3%. What is the amount of interest earned?

Question

asked Apr 4, 2021 93.6k views

2 Answers

Daman Arora · Answer 1 · 2021-04-09T23:35:48+0000

Answer:

1350

Explanation:

The formula says

Interest earned=deposited amount ×interest rate × time

Interest earned=3,000×0.03×15=1350