Question

Compute the amount of interest earned in the following simple interest problem. A deposit of $4,500 at 5% for 3 years:

$67.50
$6.75
$675.00
$6,750.00

Answer 1

is it compounded you think?

Answer 2

5 percent of 4500 is 225

Answer 3

multiply it by 3

Answer 4

so you just have to add that up 3x

Answer 5

Okay, so the annual interest formula is \[A=P(1+r/n)\]

Answer 6

because for 3 years

Answer 7

Yes

Answer 8

o

Answer 9

225*3=

Answer 10

675

Answer 11

do you think the answer is less than 4500?

Answer 12

Yes correct

Answer 13

No shh ramen

Answer 14

tank u

Answer 15

No problem

Answer 16

your welcom

Answer 17

Lee, you can press the 'close' button if you are done with this question :)