SOLUTION: What is the interest earned on $24,000 at 5% for 3 years?? Thanks!

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Question 1193346: What is the interest earned on $24,000 at 5% for 3 years??
Thanks!
Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


I = prt

I = interest
p = principal (the amount invested)
r = rate (interest rate, as a decimal)
t = time (years)

I=%2824000%29%28.05%29%283%29

You can do the calculation; use a calculator if needed.