Question

Dawnie deposited $350 in a savings account earning 2% simple interest over 3 years. What was the total amount of interest earned at the end of 3 years? Plz help! :D

Answer 1

$21

Explanation:

Each year, Dawnie earned ...

... 2% × $350 = $7.00

The total amount earned in 3 years is then ...

... 3 × $7.00 = $21.00