An account earns 3% yearly simple interest. How much interest will you earn in 5 years if you put $820 in the account
A. $130.60
B. $ 123.00
C. $943.00
D. $950.60

Respuesta :

Answer:

[tex]the \: interest \: is \: 123.00(option \: b)[/tex]

Step-by-step explanation:

[tex]rate = 3\% \\ time = 5years \\ principal = 820[/tex]

[tex]interest = \frac{principal \: \times rate \: \times \: time}{100} [/tex]

[tex]interest = \frac{820 \times 5 \times 3}{100} [/tex]

[tex]the \: interest \: is \: 123[/tex]

The correct answer is B. $123