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3 November, 07:25

What is the simple interest earned on $3,672 at 4.5% for three years?

$459.72

$594.86

$518.36

$495.72

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Answers (2)
  1. 3 November, 09:28
    0
    It would be the first answer 459.72
  2. 3 November, 09:32
    0
    Answer: interest at the end of 3 years is $495.72

    Step-by-step explanation:

    The formula for simple interest is expressed as

    I = PRT/100

    Where

    P represents the principal

    R represents interest rate

    T represents time in years

    I = interest after t years

    From the information given

    T = 3 years

    P = $3,672

    R = 4.5%

    Therefore

    I = (3672 * 4.5 * 3) / 100

    I = 49572/100

    I = 495.72
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