What is the interest earned on a $1200 deposit with a 6.5% interest rate for 3 years?

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Question:

What is the interest earned on a $1200 deposit with a 6.5% interest rate for 3 years?

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Answer:$234Step-by-step explanation:P is the principal amount, $1200.00.r is the interest rate, 6.5% per year, or in decimal form, 6.5/100=0.065.t is the time involved, 3....year(s) time periods.So, t is 3....year time periods.To find the simple interest, we multiply 1200 × 0.065 × 3 to get that::) hope this helps

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