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What's the annual interest for a principle of $3500 at a simple annual interest rate of 2.3%

What's the annual interest for a principle of $3500 at a simple annual interest rate of 2.3%
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2 votes
What's the annual interest for a principle of $3500 at a simple annual interest rate of 2.3%

User Rnoob
by
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2 Answers

6 votes
I=prt
I. Interest
P. Principal
R. Interest rate
T. Time
I=3,500×0.023×1
I=80.5
User Luis Dalmolin
by
8.2k points
4 votes
$80.5 is the right answer.
We divide 3500 by 100 and then multiply the answer to 2.3
User Mjmdavis
by
7.4k points
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