3% simple annual interest paid on $250
A 2-column table with 4 rows. Column 1 is labeled Year with entries 1, 2, 3, 4. Column 2 is labeled Total Interest Paid with entries question mark, 15 dollars, 22 dollars and 50 cents, question mark.
The simple interest earned in year 1 is calculated as .
The simple interest earned in year 1 is .
The total interest earned at the end of year 4 is .