Question

If $1000 is invested for 2 years with a 3% yearly interest rate. What is the amount of simple interest

Answer 1

Answer:

Total: 1060 Gain: 60

Step-by-step explanation:

1000 (Current Amount) x 0.03 (3% as a decimal) x 2 (year amount) = 60 + 1000 (Original Amount Invested) = 1060