SOLUTION: 1)Sara has $3000 to invest for 2 years. She invests the money in a bank which pays simple interest at the rate of 7.5 % per year. Calculate how much interest she will have at the

Question 1025600: 1)Sara has $3000 to invest for 2 years.
She invests the money in a bank which pays simple interest at the rate of 7.5 % per year.
Calculate how much interest she will have at the end of the 2 years.
please explain your answers!!
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Sara has $3000 to invest for 2 years.
She invests the money in a bank which pays simple interest at the rate of 7.5 % per year.
Calculate how much interest she will have at the end of the 2 years.
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I = P*r*t
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I = 3000*0.075*2
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I = 3000*0.15
I = 15*30 = $450
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Cheers,
Stan H.
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