discodazz9
discodazz9 discodazz9
  • 02-08-2020
  • Mathematics
contestada

Sam borrows $5700 at 4.5% simple interest for 3 years. Find the interest

Respuesta :

Stephen46
Stephen46 Stephen46
  • 02-08-2020

Answer:

The interest is

$ 769.50

Step-by-step explanation:

Simple interest is given by

[tex]I = \frac{P \times R \times T}{100} [/tex]

where

P is the principal

R is the rate

T is the time given

From the question

The principal / P = $ 5700

The rate / R = 4.5%

The time given / T = 3 years

So the interest is

[tex]I = \frac{5700 \times 4.5 \times 3}{100} [/tex]

[tex]I = \frac{76950}{100} [/tex]

We have the final answer as

I = $ 769.50

Hope this helps you

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