Answer :
Answer:
$19.50
Step-by-step explanation:
Simple interest is compounded once, so the amount of interest accrued is equal to the initial amount times the annual interest rate times the time in years.
I = Prt
I = ($650) (0.03) (1)
I = $19.5
Answer:
$19.50
Step-by-step explanation:
Simple interest is compounded once, so the amount of interest accrued is equal to the initial amount times the annual interest rate times the time in years.
I = Prt
I = ($650) (0.03) (1)
I = $19.5