Algebra Grade 7

If a bank offers a savings account that pays simple interest rate of 4% and you deposit $475.00 into this account, how much interest will you have earned after 3 years?

  1. 2
asked by rawr... im a dinosaur.... rawr
  1. Interest = Principal * Rate * Time

    I = 475 * 0.04 * 3

    I = ?

    posted by Ms. Sue
  2. what is it??

    posted by jo jo

Respond to this Question

First Name

Your Response

Similar Questions

  1. Social Studies

    I was wondering if I could check my answers with someone. I'm a bit confused with interest. I put stars next to the answers I chose. Thank you. An interest rate is a special type of (1 point) loan. **price. bank. service. 2. How
  2. Social Studies

    An interest rate is a special type of (1 point) loan. **price. bank. service. 2. How does a compound interest rate differ from a simple interest rate? (1 point) ***Compound interest rates pay more interest over time. Compound
  3. SS

    Rohan has 100 dollars that he wants to save in a bank. Bank A offers two types of savings accounts. One has a 5% simple interest rate and the other has a 4.8% compound interest rate. Bank B also offers two types of savings
  4. Math

    the amount of simple interest earned in a savings account varies directly with the amount of money in the savings account with the amount of money in the account. A certain bank offers a 2% savings rate write a direct variation
  5. Math help! Check my answers ASAP!

    1. Which graph most likely describes the distance a person walks in a 24-hour period? (1 point) a. Graph IV** b. Graph II c. Graph I d. Graph III 2. A car traveling at 25 mi/h accelerates to 48 mi/h over the first 5 seconds. It
  6. pre algebra

    At the beginning of the year 2000, Bob put $100 in a savings account. The bank pays Bob 5% interest on his total savings at the end of each year including all interest added to the account. Assume the interest rate continues and
  7. math

    Guys please i need your help i am not getting the answer over the following questions. 1) Maria banked sh. 95,000 in her bank account. If the bank gives a simple interest of 17% per year, how much will she get after 3 years? 2) If
  8. math

    Suppose $500 is divided into two bank accounts. One account pays 15% simple interest per year and the other pays 10%. After three years there is a total of $200 in interest between the two accounts. How much was invested into the
  9. Algebra

    Suppose $6,500 is divided into two bank accounts. One account pays 10% simple interest per year and the other pays 4.6%. After two years there is a total of $1000 in interest between the two accounts. How much was invested into
  10. Algebra

    Another bank offers a different savings rate. If an account with $400 earns interest of $6, how much interest is earned by an account with $1800?

More Similar Questions