SOLUTION: sally puts $200.00 in a bank account that earns 8% simple interest how much interest will be earned in 3 years?

SOLUTION: sally puts $200.00 in a bank account that earns 8% simple interest how much interest will be earned in 3 years?

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Question 231497: sally puts $200.00 in a bank account that earns 8% simple interest how much interest will be earned in 3 years?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
The formula for simple interest is

= number of years
= amount after years
= annual interest rate in %
= original amount
= interest earned after years
--------------------------
given:

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$48 interest will be earned after 3 years

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