SOLUTION: Robert invests $3,250 into a money market account with an annual 1.7% simple interest rate. If he does not add or subtract any money, how much interest will he earn after three yea

Question 1143634: Robert invests $3,250 into a money market account with an annual 1.7% simple interest rate. If he does not add or subtract any money, how much interest will he earn after three years?
Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
.


For a simple interest account, the interest = A*r*t,


where A is the initial deposit value; r is the annual rate presented as a decimal, and t is the time in years.


In your case  the interest = 3250*0.017*3  dollars.


Use your calculator.

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