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

asked Mar 11, 2021 126k views

5 votes

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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6 votes

Answer:

$70

Explanation:

Interest = Principal x Rate x Time

p = 3500

r = .02

t = 1

multiply the above and you get 70

JamesB answered Mar 16, 2021

5.9k points

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