Find the simple interest on £3500 invested for 3 years at 4% per year.

4%=0.04
0.04x£3500=£140
£140x3=£420

Answered by cjbuckleyuk | 2024-06-10

The simple interest on £3500 invested for 3 years at 4% per year is £420. This is calculated using the formula for simple interest, where you multiply the principal amount, the interest rate, and the time in years. Following the steps, the calculation gives you the final amount of interest earned.
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Answered by cjbuckleyuk | 2024-11-22