Placlice (5SImple and Compound) 9. Beau's grandmother started depositing $1000 in a saving account for him each year on his birthday. The account pays 2.5% simple interest. How much interest will the account earn after year 3? Round to the nearest cent. Directions: 1. Write the formula: 2. What are you looking for? 3. Numbers involve in the formula:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Practice (Simple and Compound)
9. Beau's grandmother started depositing $1000 in a
saving account for him each year on his birthday. The
account pays 2.5% simple interest. How much interest
will the account earn after year 3? Round to the nearest
cent.
Directions:
1. Write the formula:
2. What are you looking for?
3. Numbers involve in the formula:
Transcribed Image Text:Practice (Simple and Compound) 9. Beau's grandmother started depositing $1000 in a saving account for him each year on his birthday. The account pays 2.5% simple interest. How much interest will the account earn after year 3? Round to the nearest cent. Directions: 1. Write the formula: 2. What are you looking for? 3. Numbers involve in the formula:
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