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Edin has £300 in his savings account. His bank offers him a fixed 5% simple interest rate per annum, for a period of 3 years.

Edin has £300 in his savings account. His bank offers him a fixed 5% simple interest rate per annum, for a period of 3 years.
asked 79.4k views
4 votes
Edin has £300 in his savings account. His bank offers him a fixed 5% simple interest rate per annum, for a period of 3 years.

asked
User Msvuze
by
7.7k points

1 Answer

5 votes
£45

300 x 0.05 = 15

15 x 3 = 45
answered
User Josh Kitchens
by
8.5k points
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