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Financial Maths, SMB-006

Cassie opens a savings account and deposits $900 into it.

She makes no more deposits and earns simple interest on her original deposit at 3.5% each year.

How much interest will Cassie earn after 4 years?  (2 marks)

--- 4 WORK AREA LINES (style=lined) ---

Show Answers Only

`$126`

Show Worked Solution
`text(Interest earned)` `=Prn`
  `= 900 xx 3.5/100 xx 4`
  `= $126`

Filed Under: Simple Interest Tagged With: num-title-ct-corea, smc-4226-50-Simple Interest, smc-4332-10-Find interest

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