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7 June, 02:27

Edin has £300 pounds in his saving account. His bank offers him a simple 5% interest rate per annum, for a period of three years. How much interest will he have earned in 3 years?

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  1. 7 June, 05:22
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    Hi there

    The simple interest formula is

    I=p*r*t

    I interest earned?

    P principle 300

    R interest rate 0.05

    T time 3years

    So

    I=300*0.05*3

    I=45

    interest will he have earned in 3 years is 45

    Good luck!
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