3 years ago

Simple interest worksheet

1 answer:

muminat3 years ago

5 0

Simple interest formula:

$I=prt$

where $I$ =interest, $p$ =principal (how much you put in at first), $r$ =rate as a decimal, and $t$ =number of years.

Let's plug in what we're given.

$I=350\times0.05\times4$

Calculate it out...

$\boxed{I=70}$

The interest earned is $70.00.

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