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nevsk [136]
3 years ago
6

A bank offers a home improvement loan with simple interest at an annual rate of 12%. J.T. borrows $14,000 over a period of 3 yea

rs. How much will he pay back altogether?
The choices are:
A. 19,040 dollars
B. 15,680 dollars
C. 20,720 dollars
D. 17,360 dollars
Mathematics
1 answer:
Dennis_Churaev [7]3 years ago
5 0
Interest = PRT/100
I= 14000*0.12*3
I=5040

Add Interest to the Principal
14000 + 5040
= $19,040 
A is the answer.
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