Question

Find the simple interest paid.

9. Principal: $350
Annual rate: 4%
Time: 3 years
Interest

Answer 1

$392

Step-by-step explanation:

Using the simple interest formula....

A=P(1+rt)

A=350(1+(0.04)(3))

A=350(1+(0.12)

A=350(1.12)

A=350x1.12

A=392