SOLUTION: P= $3,000 R = 6% T = 3 years What is the interest you would make?

SOLUTION: P= $3,000 R = 6% T = 3 years What is the interest you would make?

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Question 593211: P= $3,000
R = 6%
T = 3 years
What is the interest you would make?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
Simple interest
I=Prt
I=3000*0.06*3
I=$540
Compounded
A=3000(1.06)^3
A=3000*1.191
A=$3573
3573-3000=$573
You didn't say which
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