Please help, thanks!

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.
$12

$12?

Question

Please help, thanks!



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.
	$12 

$12?

anonymous · Answer

**Middle school

anonymous · Answer

answers are:  A.
	$12
	
 
B.
	$24
	
 
C.
	$120
	
 
D.
	$240

anonymous · Answer

@jim_thompson5910

jim_thompson5910 · Answer

Assuming this is simple interest, then...

I = P*r*t
I = 200*0.03*2
I = 12

so yes you earn $12 in simple interest