Answer:
$ 440 deposited in a bank for 3 months at 3% will earn $ 3.30 of interest
Step-by-step explanation:
Let's use the formula of simple interest for answering this question:
I = P * r * t
r = 3% = 0.03
t = 3 months = 3/12 of a year = 0.25 of a year
Replacing with the values we have:
I = 440 * 0.03 * 0.25
I = 3.3
$ 440 deposited in a bank for 3 months at 3% will earn $ 3.30 of interest
