# SOLUTION: if you deposit \$150 in an account that earns simple interest.The annual interest rate is 3.2%. How much interest will you earn in 3 years?

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 Click here to see ALL problems on Money Word Problems Question 387756: if you deposit \$150 in an account that earns simple interest.The annual interest rate is 3.2%. How much interest will you earn in 3 years?Answer by josmiceli(9661)   (Show Source): You can put this solution on YOUR website!Let Let = earnings at end of each year At the end of the 1st year: At the end of the 2nd year: At the end of the 3rd year: Substituting: Interest earned = In 3 years \$14.87 interst is earned