At the end of 3 years, how much money would you have in total if you invested $75 and earned 5% simple interest?
a.
$86.25
b.
$90
c.
$100.25
d.
$105

A.  $86.25

Step-by-step explanation:

The formula to calculate the simple interest is given by :-

, P is Principal amount , r is rate of interest and t is time.

Given : P= $75   ;  r= 5%=0.05 ;    t=3 years

Then, the simple interest will be:-

Now, the money you have after 3years = P+I = $75+$11.25=$86.25

Hence, you would have $86.25 at the end of 3 years.

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