Charis invested 140 . She earned a simple interest of 3% per year on the initial investment. If no money was added or removed from the investment, what was the amount of interest Charis received at the end of two years?

Solution

Solution

Amount : 148.4

Solution steps

Translate the problem into an equation:

A = 140 (1 + 0.03 \cdot 2)

140 (1 + 0.03 \cdot 2) = 148.4

Amount : 148.4

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