SOLUTION: Cristina puts $500 in a bank account. Each year the account earns 6% simple interest. How much interest will be earned in three years?

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Question 394116: Cristina puts $500 in a bank account. Each year the account earns 6% simple interest. How much interest will be earned in three years?
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Cristina puts $500 in a bank account. Each year the account earns 6% simple interest. How much interest will be earned in three years?
..
i= p*r*t
500
r=6%
t=3
i = 500*0.06*3
i=90
..
A= p+i
A= 500+90 = 590
she will have $590 at the end of three years
...
m.ananth@hotmail.ca