If you invest $100 at 12% APR for three years, how much would you have at the end of 3 years using simple interest?
A) $136
B) $140.49
C) $240.18
D) None of the above

Name: If you invest $100 at 12% APR for three years, how much would you have at the end of 3 years using simple interest? A) $136 B) $140.49 C) $240.18 D) None of the above
Brand: Quizplus
Rating: 4.8 (33 reviews)

Question

Quizplus · Accepted Answer

Simple interest is calculated as Principal x Rate x Time. For $100 at 12% for 3 years, the interest is $100 x 0.12 x 3 = $36. The total amount is $100 + $36 = $136.

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