Answer:
$1500
Step-by-step explanation:
From the question,
Principal =$50000
Rate = 3%
Time = 1 year
Interest ?
Interest = PRT/100
= 50000x3x1 /100
=150000/100
= $1500
Answer:
0.03*50,000=1,500
Step-by-step explanation:
1) use the equation I=PRT, where Interest = principle*rate*tim
I=50,000*0.03*1
I=1,500
NOTE: principle is the amount of money you start off with: 50,000
