Question 636243: you deposit $70 in a savings account that pays an annual interest rate of 3%. how much simple interest would you earn in 2.5 years? Answer by solver91311(24713) (Show Source):
You get 70 times 0.03 = 2.10 the first year, another 2.10 the second year, and 1.05 the last half year, altogether $5.25. Don't plan on retiring on this investment.
John
My calculator said it, I believe it, that settles it
