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hoa [83]
3 years ago
13

alicia borrows $800 from the bank for 5 years at 7% sinple interest. at the end of the loan, how much will she owe the bank?

Mathematics
1 answer:
Pani-rosa [81]3 years ago
4 0

total=principle+intereest


I=PRT

I=interest

P=principal

R=rate in decimal

T=time in years


in our case

P=800

R=7%=0.07

T=5

find I

I=PRT

I=(800)(0.07)(5)

I=280


total she owes is 800+280=$1080

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