Ask Question
16 May, 03:55

Calculate simple interest earned on a deposit of $1000 at a rate of 3% for 10 years.

+4
Answers (1)
  1. 16 May, 04:09
    0
    260%

    Step-by-step explanation:

    10 years = 120 month

    1000-100%

    x-3%

    1) (3*1000) / 100 = 30$

    2) 30*120=3600$

    1000-100 %

    3600-x

    3) (3600*100) / 1000 = 360%

    4) 360%-100%=260%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Calculate simple interest earned on a deposit of $1000 at a rate of 3% for 10 years. ...” 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