Question

francis lent her sister $350 at a simple annual intrest rate of 3%. how much interest will frances earn at the end of 5 years

Answer 1

None. If it takes her deadbeat sister 5 YEARS to pay back a $350 loan, then francis can kiss that money goodbye!!

But the answer your teacher is probably looking for comes from this:

.03*350*5

:-)

Answer 2

i dont get it

Answer 3

haha though

Answer 4

350 is the principle.
3% is simple interest on that principle. Percentages are expressed mathematically as hundredths, so 3% = .03
5 years is the length of time that francis has allegedly been charging that 3% on that principle.

So the 3% interest she collects on $350 is found by multiplying:
350*.03

And since she is collecting it for 5 years, then you have to multiply that interest by that number of years:
350*.03*5

Do it on a calculator and see what you come up with! :-)