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PLEASE HELP ASAP Jodi borrowed money from her aunt and agreed to pay her 5% simple annual interest. At the end of 3 years, she owes $30 in interest. How much did Jodi originally borrow?

Sagot :

Gillruss

Joni pays an annual interest of 5%, which means that in three years, the interest is 15%.

Let us assume that the amount Joni borrowed is m.

After three years, the interest is $30.

15% of the amount m = $30

0.15m = 30

m = 30/0.15 = 200

Therefore, Jodi originally borrowed $200.

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