Question

Frances lent her sister $350

At a simple annual interest rate of 3%.
How much interest will Frances earn at the end of 5 years?

Answer 1

Well let’s start with what 3% of 350. It is 10.5 so at the end of 5 years the interest will be 52.50$. Your welcome btw!

Answer 2

3% of 350 is 10.5. Because we're only calculating simple interest we multiply this by 5 to give $52.50 interest after 5 years. Therefore Frances will have earned $52.50.

Explanation:

Not og answer credits to annikad