Question

Sonya put $400 in a savings account for 3 years which pays a 5% annual interest rate. How much simple interest did Sonya earn?

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Answer 1

After 3 years her final amount would be $460
Because it’s simple interest we don’t need to do 5% 3 times we can just do 15% because 5x3 = 15 if this equals 460 then she earned $60 simple interest