Jayda deposited $1500 into savings account that pays 3% simple interest per year. How much interest does she earn per year on her investment?

I = PRT

I = 1500 * 0.03
I = $45

1000

To calculate the interest earned per year on Jayda's investment, we can use the formula for simple interest:

Interest = Principal (P) x Rate (R) x Time (T)

Given:
Principal (P) = $1500
Rate (R) = 3% or 0.03 (as a decimal)
Time (T) = 1 year

Substituting the given values into the formula:

Interest = $1500 x 0.03 x 1

Calculating the multiplication:

Interest = $45

Therefore, Jayda earns $45 in interest per year on her investment.

To calculate the interest earned per year on Jayda's investment, we can use the formula for simple interest:

Interest = Principal * Rate * Time

Where:
- Principal is the initial amount of money deposited ($1500 in this case)
- Rate is the interest rate per year (3% or 0.03 in decimal form)
- Time is the number of years the money is invested (1 year in this case)

Using this formula, we can plug in the values:

Interest = $1500 * 0.03 * 1
Interest = $45

Therefore, Jayda earns $45 in interest per year on her investment.