What is the simple interest earned on $3,672 at 4.5% for three years?

$459.72

$594.86

$518.36

$495.72

Question

Mathematics

Lorena

13 July, 22:06

What is the simple interest earned on $3,672 at 4.5% for three years?

$459.72

$594.86

$518.36

$495.72

+3

Answers (2)

Know the Answer?

Jerimiah Briggs · Answer 1

It would be the first answer 459.72

Bobby Hogan · Answer 2

Answer: interest at the end of 3 years is $495.72

Step-by-step explanation:

The formula for simple interest is expressed as

I = PRT/100

Where

P represents the principal

R represents interest rate

T represents time in years

I = interest after t years

From the information given

T = 3 years

P = $3,672

R = 4.5%

Therefore

I = (3672 * 4.5 * 3) / 100

I = 49572/100

I = 495.72

What is the simple interest earned on $3,672 at 4.5% for three years?$459.72$594.86$518.36$495.72

What is the simple interest earned on $3,672 at 4.5% for three years?

$459.72

$594.86

$518.36

$495.72