Learn what simple interest is and how to calculate it using ... (note that high-yield ... Say you put a sum of $800 into a savings vehicle with a 5% annual simple interest rate. You'll enter ...

Calculate the interest on borrowing £40 for 3 years if the simple interest rate is 5% per year. First, work out the amount of interest for 1 year by working out 5% of £40, which is £2.

Calculate the interest on borrowing £40 for 3 years if the simple interest rate is 5% per year. First, work out the amount of interest for 1 year by working out 5% of £40, which is £2.