Fall07:After a summer of travelling (and not working), a student finds himself $1,500 short for this

Fall07:After a summer of travelling (and
not working), a student finds himself $1,500 short for this years tuition
fees. His parents have agreed to loan him the money for three years at a simple
interest rate of 6 percent, with interest due at the end of each year.
A. How much interest will he owe his parents
after one year?
B. How much
will he owe, in total, after three years?
Topic: Simple
Interest
Level of difficulty: Easy