SOLUTION: ) Calculate the simple interest earned if a deposit of $ 120,000 is left for 15 years at an interest rate of 3%

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Question 1109322: ) Calculate the simple interest earned if a deposit of $ 120,000 is
left for 15 years at an interest rate of 3%
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+I+=+P%2Ar%2At+
+I+=+120000%2A.03%2A15+
+I+=+120000%2A.45+
+I+=+54000+
The interest after 15 yrs is
$54,000