Verified answer

Beth borrowed 3500 at 10% simple interest for two and three fourths years. How much interest did she have to pay?

Given:

• Principal = 3,500
• Rate = 10% or 0.1
• Time = 2 3/4 or 2.75 years

Solving for the interest: Using the simple interest formula

• Interest = Principal × Rate × Time
• Interest = 3,500 × 0.1 × 2.75
• Interest = 962.5

Therefore , Beth has an interest of 962.5

• The interest is 962.5