If you invest $100 at 12% APR for three years,how much would you have at the end of three years using simple interest?
A)$136.00
B)$140.49
C)$240.18
D)$187.13

Question

Quizplus · Accepted Answer

Simple interest is calculated using the formula: Interest = Principal x Rate x Time. Here, Interest = $100 x 0.12 x 3 = $36. The total amount after three years is the principal plus interest: $100 + $36 = $136.00.

If You Invest $100 at 12% APR for Three Years,how