SOLUTION: can you please help mee!!!!!! Using the formula I=PRT to find simple interest on an account, find the amount of interest earned in 3 years if you deposited $500 into a saving

Algebra ->  Polynomials-and-rational-expressions -> SOLUTION: can you please help mee!!!!!! Using the formula I=PRT to find simple interest on an account, find the amount of interest earned in 3 years if you deposited $500 into a saving      Log On


   

Question 189907: can you please help mee!!!!!!

Using the formula I=PRT to find simple interest on an account, find the amount of interest earned in 3 years if you deposited $500 into a savings account earning 6% per year.
a. $9000
b. $90
c. $900
Answer by jojo14344(1513) About Me  (Show Source):
You can put this solution on YOUR website!


I guess we're direct substituting the given to our formula for Simple Interest.

Given:
P= $500
R= 6%
T= 3years

Then,
I =PRT = $500 x 0.06 x 3yrs
I = $90 (b)

Thank you,
Jojo