An account earns simple interest. $300 at 4% for 3 years, what is the interest earned Question An account earns simple interest. $300 at 4% for 3 years, what is the interest earned in progress 0 Math Amaya 2 weeks 2022-01-15T17:25:41+00:00 2022-01-15T17:25:41+00:00 1 Answer 0 views 0

## Answers ( )

Answer:$36

Step-by-step explanation:You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned.

I = interest amountP = principal amountr = interest rate (decimal form)t = time (years)First, change 4% into a decimal:4% -> -> 0.04

Now, plug the values into the equation:The interest earned is $36