What is the interest earned on $350.00 invested 4 years at a 5% simple interest?

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asked Oct 25, 2016 139k views

1 Answer

Lucas Fersa · Answer 1 · 2016-10-30T21:13:38+0000

so simple interest earned is [(5% of 350) times 4]
so
percent means parts out of 100 so 5%=5/100=1/20
'of' can be translated as multiply
(1/20 times 350) times 4
[(350/20)times 4]
[(17.5) times 4]
[70]
70 is the answer

What is the interest earned on $350.00 invested 4 years at a 5% simple interest?

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