Question

Anne has $40,000 in a savings account that earns 3%
interest per year. The interest is not compounded. How much interest will she earn in 2years?

Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.

Answer 1

The answer is $2,400You can do 40000(amount of money) times 0.03(rate) times 2(time in years)and get the answer of $2,400. I hope this helps!