If you mean simple interest, then the formula for Interest = Principal x Rate x Time
Rate is given as % per year expressed as a decimal, and Time = number of years.
A Rate of 3%/year = 0.03/year
So, I = $7600 x 0.03/year x 1year = $228.00
Selah N.
asked • 04/20/16Caleb invested an amount of $7600 at an interest rate of 3%. What will the interest be after a year?
I need help with this question, please help me.
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