If you borrow $100 for 3 years with an annual interest rate of 9% how much will you pay altogether.

Mathematics

2 answers:

arsen [322]3 years ago

3 0

$100(1.09)^3=129.5029$ or $129.50

Hitman42 [59]3 years ago

3 0

Here we have o find simple interest ( SI )

SI = P x R x T / 100
P = $100
R = 9
T = 3

SI = 100 x 9 x 3 / 100
= 2700 / 100
= 27 for the 1st year

For 3 years 27 x 3
= 81
So 181 is what you have to pay altogether.

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