Answer:
Interest would be $81.00.
Step-by-step explanation:
To find out the interest earned on $2,700 in one year if it is invested at 3%.
We use the formula to get interest :
I = Prt
Where P = principal amount ( $2,700 )
r = rate of interest 3% in decimal ( 0.03)
t = time (1 year)
Now put the values in formula
I = 2,700 × 0.03 × 1
I = $81.00
The earned interest is $81.00 on 2,700 in one year.
