Question

If the principal is $350 and the interest rate is 3 percent, what is the simple interest earned in one year?

simple interest = P × r × t

Answer 1

Define I is Simple interest
\[I=$350\times \left( \frac{ 3 }{ 100 } \right)\left( \frac{ $ }{ year } \right)\times1year\]
the second term is equal to 3 percent of principal, its unit must be dollars per year
then you can get the answer

Answer 2

I'm on this question and I don't get what you're saying. @pinguine