Calculate the interest earned on a savings account with 820 that is invested at 4% annual simple interest for 3 years
29.10
32.80
98.40
131.20
Helo brother ^^
What is going on does anyone have the answer
To calculate the interest earned on a savings account with a principal of $820, invested at an annual simple interest rate of 4% for 3 years, you can use the formula:
Interest = Principal x Rate x Time
Where:
Principal = $820
Rate = 4% (expressed as a decimal, so 4% = 0.04)
Time = 3 years
Plugging in the values:
Interest = $820 x 0.04 x 3
Interest = $98.40
Therefore, the interest earned on the savings account is $98.40.
So, the correct answer is 98.40.