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Today, 02:59

How much interest is earned in one year for $5,000 at an interest rate of 3%?

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Answers (2)
  1. Today, 05:16
    0
    The interest is $150 and the amount is $5150.

    Step-by-step explanation:

    STEP 1: Find an interest by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

    In this example P = $5000, i = 3% and t = 1 years, so

    I=P⋅i⋅t

    I=5000⋅0.03⋅1

    I=150=interest

    STEP 2: Find an amount by using the formula A=P+I.

    Since P = $5000 and I = $150 we have

    A=P+I

    A=5000+150

    A=5150
  2. Today, 06:11
    0
    Step-by-step explanation:

    To find the interest take 5,000 and divide it by. 03 Make sure you use. 03 because it is 3% not 30.
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