An account earns simple interest.

$350 at 3% for 10 years

a. Find the interest earned.

$

b. Find the balance of the account.

$

Answers

Answer 1

Answer:

interest earned: $105

balance of the account: $455

Step-by-step explanation:

Answer 2

Interest earned and The balance of the account are $105 and $455.

Simple Interest:

Given:

Amount invested = $350

Interest rate = 3% = 0.03

Number of year = 10 years

Find:

Interest earnedThe balance of the account

Computation:

simple interest earned = PRT

Interest earned = (350)(0.03)(10)

Interest earned = $105

The balance of the account = 105 + 350

The balance of the account = $455

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Step-by-step explanation:

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