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20 April, 12:16

Calculate simple interest earned on a deposit of $1000 at a rate of 3% for 10 years.

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  1. 20 April, 15:20
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    260%

    Step-by-step explanation:

    10 years = 120 month

    1000-100%

    x-3%

    1) (3*1000) / 100 = 30$

    2) 30*120=3600$

    1000-100 %

    3600-x

    3) (3600*100) / 1000 = 360%

    4) 360%-100%=260%
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