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joja [24]
4 years ago
7

How much will it cost to borrow $2,500 for a year at a simple interest rate at 14% please explain

Mathematics
1 answer:
Mariana [72]4 years ago
3 0
Principle (P) = $ 2,500

Rate (R) = 14%

Time (T) = 1 year

Simple Interest (SI) = \frac{PRT}{100}

SI = \frac{2500 * 14 * 1}{100} =  \frac{25 *14}{1} = 350

Hence, the answer is $350.
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