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charle [14.2K]
3 years ago
10

You take out a loan for $550 at a rate of 4.5% for 3 years. At the end of 3 years, how much interest has accumulated on the loan

?
Mathematics
1 answer:
shusha [124]3 years ago
3 0
550 * 4.5% = 24.75

24.75 * 3 = 74.25

The loan has accumulated to $74.25

The total paid back would be $624.25

Hope I could help :)
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