Arithmetic Reasoning
Jenny put $600 in the bank for 5 years and earned 3% in interest. How much interest did she earn?
This question is a question on interest rate which is a topic that is part of the Arithmetic Reasoning section of the ASVAB. To solve this problem, you need to know the formula for interest rate. This problem involves working with a percentage. An important step involved in solving this problem is changing the percent to a decimal. As an ASVAB tutor, I remind my students of the importance of knowing the necessary formulas. Do you know the formula for interest rate? I will present the answer and explanation tomorrow.
