almarinelli01 almarinelli01
  • 24-11-2021
  • Mathematics
contestada

2. Find the simple interest paid to borrow $4800 for 6 years at 7%.

Respuesta :

safiyyahisat05 safiyyahisat05
  • 24-11-2021
2016

1% is 48
7% 336 [1 year]
6 years is 2016
Answer Link
ratedgibbon216 ratedgibbon216
  • 24-11-2021

Answer:

$2016

Step-by-step explanation:

Simple Interest equation: I = Prt

So,

P = $4800

r = [tex]\frac{7}{100}[/tex] = 0.07

t = 6

I = (4800) · (0.07) · (6)

Thus,

The simple interest is $2016.

Answer Link

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