Heidi lends \$600 to her cousin, who pays her 5% simple interest each year. At the end of three years, the cousin pays back the loan. What is the total amount that Heidi collects? A. \$690.00 B. \$625.00 C. \$654.32 D. \$724.65
Heidi lends \$600 to her cousin, who pays her 5% simple interest each year. At the end of three years, the cousin pays back the loan. The total amount that Heidi collects is \$690. Solution: Original sum + interest; \$ 600 + 3(5100×\$600); \$600 + \$90 = \$690.
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Updated 5/15/2021 2:12:40 PM
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Heidi lends \$600 to her cousin, who pays her 5% simple interest each year. At the end of three years, the cousin pays back the loan. The total amount that Heidi collects is \$690. Solution: Original sum + interest; \$ 600 + 3(5100×\$600); \$600 + \$90 = \$690.

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