Question

PLEASE HELP ME WITH THIS

Gwen borrows $300 from her parents to buy a bike. She agrees to pay them back with 3% simple interest every month for one year. What is the total amount of money Gwen will owe her parents? *
Just enter the numerical portion of your answer - no dollar signs or change needed!

Answer 1

408

3 percent of 300 is 9.

So it is $9 every month times 12 months

is equal to 108 so add the 300 on top of the 108 = 408

Explanation: