Jonathan’s grandparents lend $1,000 to Jonathan at a simple annual interest rate of 10%. He pays them back 5 years later. How much do they receive? Pick
A) 1,000∗0.1^5 B) 1,000∗0.5 C) 1,000∗1.5 D) 1,000∗1.1^5 E) (1,000∗0.1)^5
1&gt;Simple Interest Vs Compound interest (there are answers options with compounded interest)   S.I = P x R x T formula in school the question is asking for Amount in 5 years. so (c) 1,000∗ 1.5   Ans : 1,000∗1.5
<result>C</result>
Jonathan’s grandparents lend $1,000 to Jonathan at a simple annual interest rate of 10%. He pays them back 5 years later. How much do they receive?