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Stephen lent his friend $100 at a simple annual interest rate of 6%. How much interest will Stephen earn at the end of 3 years?

Stephen lent his friend $100 at a simple annual interest rate of 6%. How much interest will Stephen earn at the end of 3 years?
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4 votes
Stephen lent his friend $100 at a simple annual interest rate of 6%. How much interest will Stephen earn at the end of 3 years?

asked
User Will Parzybok
by
9.2k points

2 Answers

6 votes
I'm pretty sure it's 18.. sorry if it's wrong
answered
User Amir Charkhi
by
8.1k points
4 votes
$100*.06*3
1. multiply 100*.06=$6
2. then multiply $6*3=$18

answered
User Squirrl
by
8.3k points
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