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Jose deposits $500 into an account that pays simple interest at a rate of 3% per year. How much interest will he be paid in the first 3 years?
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ANSWERS

2017-08-15 06:33:10

at the end of 3 years Jose will have made 546.36. so the answer is 46.36 will be payed in the first 3 years.

2017-08-15 06:34:25

The amount of the SIMPLE (& not compound) interest is $500x 3% =$15 After 3 years he will get 3 x 15 =$45

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