What's the annual interest for a principle of $3500 at a simple annual interest rate of 2.3%
2 answers:
$80.5 is the right answer.
We divide 3500 by 100 and then multiply the answer to 2.3
I=prt
I. Interest
P. Principal
R. Interest rate
T. Time
I=3,500×0.023×1
I=80.5
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