SOLUTION: Ivanna deposits $5000 into an account that pays simple interest at a rate of 3% per year. How much interest will she be paid in the first 3 years?

Question 870697: Ivanna deposits $5000 into an account that pays simple interest at a rate of 3% per year. How much interest will she be paid in the first 3 years?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Ivanna deposits $5000 into an account that pays simple interest at a rate of 3% per year. How much interest will she be paid in the first 3 years?
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I = P*r*t
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I = 5000*0.03*3
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I = $450.00
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Cheers,
Stan H.
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