Ask Question
29 May, 11:48

A club deposited $50,000 in a saving account at the beginning of the year. Interest will be paid at a rate of 3% at the end of the year. How much interest will the club receive for the year?

+2
Answers (1)
  1. 29 May, 14:22
    0
    Answer: the club will receive $1500 interest for the year

    Step-by-step explanation:

    Simple interest is calculated by principal * rate * time

    =$50,000 * 3%*1year

    50,000*0.03*1

    =$1,500
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A club deposited $50,000 in a saving account at the beginning of the year. Interest will be paid at a rate of 3% at the end of the year. ...” 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