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kinseysteele
Answered

At the end of 3 years, how much money would you have in total if you invested $75 and earned 5% simple interest?

A.

$86.25

B.

$90

C.

$100.25

D.

$105

Verified Answer :

the answer is b because if you divide 5% by 75 you get 15 but when you add 15 to 75 you get $90 dollars 

JeanaShupp

Answer:A.  $86.25

Step-by-step explanation:

The formula to calculate the simple interest is given by :-

@@MATH_TOKEN_0@@ , P is Principal amount , r is rate of interest and t is time.

Given : P= $75   ;  r= 5%=0.05 ;    t=3 years

Then, the simple interest will be:-

\(I=75\times0.05\times3=11.25\)

Now, the money you have after 3years = P+I = $75+$11.25=$86.25

Hence, you would have $86.25 at the end of 3 years.

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