SOLUTION: Joy invests $5,000 into an account at a yearly interest rate of 0.3% simple interest for 36 months. Calculate the interest earned on this account using the simple interest formul

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Question 1136011: Joy invests $5,000 into an account at a yearly interest rate of 0.3% simple interest for 36 months.
Calculate the interest earned on this account using the simple interest formula
I=PRT
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+I+=+P%2Ar%2At+
Convert 36 months to +36%2F12+=+3+ yrs
+I+=+5000%2A.003%2A3+
+I+=+.009%2A5000+
+I+=+45+
$45