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8 September, 14:20

Jane gets a simple interest loan for $2500. If the bank charges 3% interest rate how much will her balance be after 5 years?

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  1. 8 September, 15:27
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    2500 divided by 100 is 25. If you multiply 25 times 3 you'll get 75. Repeat those steps (answers will be different each time) five times. You will get the answer.

    Don't want to do that? OK! I'll do it for you!

    Answer: 2577.31958575
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