Question

what is the simple interest earned after six years when $450 is invested into an account that pays 3% per annum?​

Answer 1

Result:

The interest is $81.

Explanation

Find an interest by using the formula , where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

In this example P = $450, i = 3% and t = 6 years, so

I =P.i.t

I =450*0.03*6

I=81

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Answer 2

Answer:

Here is your Answer

Step-by-step explanation:

I=Prt

450=P(0.03)×(6)

450÷0.18=0.18P÷0.18

2,500=P

450=2,500×(0.03)×(6)

    so 450=450