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What is the interest for a principal of $3,500 at a simple annual interest rate of 2% over 1 year?
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5 votes
What is the interest for a principal of $3,500 at a simple annual interest rate of

2% over 1 year?

User Andrew Diamond
by
6.5k points

1 Answer

6 votes

Answer:

$70

Explanation:

Interest = Principal x Rate x Time

p = 3500

r = .02

t = 1

multiply the above and you get 70

User JamesB
by
5.9k points
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