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You take out a loan for $478 at an interest rate of 8% compounded annually for one year,
What is the total amount that you will have paid at the end of the one year!

Respuesta :

bekah11

Answer:

38.24

Step-by-step explanation:

is the principal amount, $478.00.

r is the interest rate, 8% per year, (decimal form 0.08)

t is the time involved, 1....year

To find the simple interest, we multiply

478 × 0.08 × 1

I=P×r×t

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