Question

Trina borrowed $460 from a friend. Her friend charged her 5% simple annual interest.

How much will Trina owe her friend in total after 3 years? Use the simple interest formula to solve.
I = prt
I = (460)(0.05)(3)
Trina must pay her friend a total of $.

Answer 1

$529

Explanation:

Use the simple interest formula.

I= (460)(0.05)(3)

Answer 2

Trina borrowed $460 from a friend. Her friend charged her 5% simple annual interest.Let's solve how much will Trina owe her friend in total after 3 years? Use the simple interest formula to solve.
I = prt
I = (460)(0.05)(3)
I = 460 * 0.05 = 23
I = 23 * 3 years = 69 dollars is the interest.
Trina must pay her friend a total of $460 + 69 = 529.