LeelynR245922 LeelynR245922

31-10-2022
Mathematics

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Find the interest: $2,000 starting amount, 5% interest rate, 3 years.

Find the interest 2000 starting amount 5 interest rate 3 years class=

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KylinnK366610 KylinnK366610

31-10-2022

Use the given information

Principal=$2,000

Rate=5%=0.05

Time=3

Replace the values

[tex]\begin{gathered} I=P\cdot R\cdot T \\ I=2,000\cdot0.05\cdot3 \\ I=300 \end{gathered}[/tex]

The interest is $300

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