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10 October, 18:45

A club deposited $50,000 in a savings account at the beginning of the year. Interest will be paid at a rate of 3% at the end of the year. How much interest will the club receive for the year.

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  1. 10 October, 21:00
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    0.03*50,000=1,500

    Step-by-step explanation:

    1) use the equation I=PRT, where Interest = principle*rate*tim

    I=50,000*0.03*1

    I=1,500

    NOTE: principle is the amount of money you start off with: 50,000
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