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Edin has £300 in his saving account his bank offer him a fixed 5% simple interest rate per annum how much interest will he have earned after

Edin has £300 in his saving account his bank offer him a fixed 5% simple interest rate per annum how much interest will he have earned after 3 years

Asked by: Guest | Views: 25
Total answers/comments: 1
Guest [Entry]

"Given: principal,p= £300,rate,r=5% or 0.05,and time,t=3 years

Solution: direct substitution

I=prt=£300(0.05)(3) = £45*answer

Hope it can help..."