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28 November, 20:33

If a bank offers a savings account that pays simple interest rate of 4% and you deposit $475.00 into this account, how much interest will you have earned after 3 years?

a.

$5,700.00

c.

$28.50

b.

$57.00

+3
Answers (2)
  1. 28 November, 20:47
    0
    You get 4% per year. 4% times 3 years is 12 percent. SO you do 475 times 112% for the extra 12 percent. you get 532. lastly, you do 532 subtracting by the starting amount, 475, to get 57 dollars. the answer is b
  2. 28 November, 23:23
    0
    The answer to that is D, $57.00.
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