how much interest will roxanne have to pay if she borrows $3,000 for 3 years at a simple interest rate of 2%
1 answer:
Simpe interest rate = PRT/100
— ( principal x rate x time ) / 100
$3,000 is the principal
3 years is the time
2% is the rate
so, PRT/100
(3,000 x 3 x 2) / 100
= $180
Answer : $180
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