SOLUTION: Calculate the simple interest earned if a deposit of $ 120,000 is left for 15 years at an interest rate of 3%

SOLUTION: Calculate the simple interest earned if a deposit of $ 120,000 is left for 15 years at an interest rate of 3%

Algebra.Com

Question 1109326: Calculate the simple interest earned if a deposit of $ 120,000 is
left for 15 years at an interest rate of 3%
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Calculate the simple interest earned if a deposit of $ 120,000 is
left for 15 years at an interest rate of 3%
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I = P*r*t
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I = 120000*0.03*15 = $54000
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Cheers,
Stan H.
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