Question

What is the interest earned on an invest of $590 at a simple interest rate of 12.8% over 3 years

Answer 1

590 · 12.8% = 590 · .128 = 75.52

75.52 · 3 = 226.56

Hope this helped!

Answer 2

$ 226.56

Explanation:

Calculation:

First, converting R percent to r a decimal

r = R/100 = 12.8%/100 = 0.128 per year,

then, solving our equation

I = 590 × 0.128 × 3 = 226.56

I = $ 226.56

The simple interest accumulated

on a principal of $ 590.00

at a rate of 12.8% per year

for 3 years is $ 226.56.