Respuesta :
Answer:
At the end of the year the club will receive $1 500 interest.
Step-by-step explanation:
To sole this, we will simply use the formula;
Simple Interest = P × R × T / 100
where
P = principal
R = rate
T = time (always given in years)
From the question given
principal(p) = $50, 000
Rate (R) = 3
Time(t) = 1
We can now proceed to insert our values into the formula;
Interest = P × R × T / 100
= $50 000× 3 × 1 / 100
=$150 000/ 100
=$ 1 500
Therefore, at the end of the year the club will receive $1 500 interest.
