Juan deposited $200 in a savings account earning 3% interest over 2 years.

What was the total amount of interest earned at the end of 2 years?

A.
$240

B.
$24

C.
$120

D.
$12

Question

Juan deposited $200 in a savings account earning 3% interest over 2 years. 

 

What was the total amount of interest earned at the end of 2 years?
	
	
 
A.
	$240
	
 
B.
	$24
	
 
C.
	$120
	
 
D.
	$12

anonymous · Answer

D

anonymous · Answer

well I can tell you HOW to do the problem: 200* 0.03*2 Why? 200 is the principal, 0.03 is equal to 3% and 2 is time in years... using the formula $$I=PRT$$ you can determine what your supposed to find... http://www.teacherschoice.com.au/maths_library/money/simple_interest.htm this link will tell you anything I didn't

anonymous · Answer

now can I have a medal and fan since I told you ALL that?