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24 September, 10:32

Kim places $500 in a bank account that pays 3% simple interest per year a) how much interest will she earn each year? b) how much will she have in her account after 1 year?

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  1. 24 September, 10:56
    0
    a) she earns 15 interest

    b) she will have $515

    Step-by-step explanation:

    500 in the bank already + 3% = 515
  2. 24 September, 13:30
    0
    a) SI = prt

    SI = 500 x. 03 x 1

    SI = 15

    b) Amount in her account after 1 year

    500 + 15 = 515
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