Ask Question
19 September, 01:43

Suppose you deposited $100 in a savings account 3 years ago. The simple interest rate is 3.2 %. The interest that you earned in those 3 years is $9.60. Which of the following is/are true?

+3
Answers (1)
  1. 19 September, 05:39
    0
    It's not compounded interest, you just get $3.20 every year.

    $100 * 0.032 = $3.20

    $3.20 * 3 years = $9.60
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose you deposited $100 in a savings account 3 years ago. The simple interest rate is 3.2 %. The interest that you earned in those 3 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers