cutey2215 cutey2215

05-05-2017
Mathematics

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What's the annual interest for a principle of $3500 at a simple annual interest rate of 2.3%

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WritingRaccoon WritingRaccoon

05-05-2017

$80.5 is the right answer.
We divide 3500 by 100 and then multiply the answer to 2.3

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Aliwohaish12 Aliwohaish12

05-05-2017

I=prt
I. Interest
P. Principal
R. Interest rate
T. Time
I=3,500×0.023×1
I=80.5

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