Jonathan’s grandparents lend $30,000 to Jonathan at a simple annual interest rate of 10%. He pays them back 5 years later. How much do they receive?  Choose one
A) 30,000∗0.1^5 B) 30,000∗0.5 C) 30,000∗1.5 D) 30,000∗1.1^5 E) (30,000∗0.1)^5
if you are like me and have used S.I = P x R x T formula in school, while the question is asking for Amount in 5 years. so (c) 30,000∗ 1.5   Ans : 30,000∗1.5
<result>C</result>
Jonathan’s grandparents lend $30,000 to Jonathan at a simple annual interest rate of 10%. He pays them back 5 years later. How much do they receive?