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1 vote
Edin has £300 in his savings account. His bank offers him a fixed 5% simple interest rate per annum, for a period of 3 years. How much interest will he have earned after 3 years?​

1 Answer

4 votes

Answer:

$45

Explanation:

Interest earned in a year

5/100x300= $15

Interest earned in 3 years

=$15x3

=$45

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