Question

How much interest does a $482 investment earn at 5% over 3 years?

Answer 1

Hi there! The answer you're looking for is $72.30. Simply multiply $482 by 0.05 (5%) and multiply that answer by three (three years) to get $72.30! Let me know if this helps! <3

Answer 2

Answer: $72.30

Step-by-step explanation: To solve this problem, first begin with the interest formula.

Formula: Interest = principal × rate × time

In this problem, we are solving for the interest.

The principal is the amount invested which in this case is $482. The rate is 5% which we can write as .05 and the time is 3 years.

Interest = (482)(.05)(3)

Interest = 72.3

This means that the interest earned is $72.30.