Ask Question
4 June, 21:23

Pierre invested $7500 in a savings account with a yearly interest rate of 3% for 14 years. How much simple interest did he earn?

+3
Answers (1)
  1. 4 June, 23:37
    0
    Yearly interest return = 7500 x 3% = 7500 x 0.03 = 225

    Since it's a simple interest then the amount of total interest will be

    14 x 225 = $3150

    (This is not asked by the problems. It's just indicatif: the total money will be 7500 + 3150 = $10,650)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Pierre invested $7500 in a savings account with a yearly interest rate of 3% for 14 years. How much simple interest did he earn? ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers