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Brett deposited $150.00 in an account that paid 3% simple interest. How much interest did Brett earn in 5 years?


A.

$4.50


B.

$7.50


C.

$15.00


D.

$22.50

Verified Answer :

Brett deposited $150.00 in an account that paid 3% simple interest. the interest brett earn in 5 years :
simple interest = Pricipal x interest rate x number of years
                        = 150 x 0.03 x 5
                        = $ 22.50

hope this help

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