Find the amount paid for the loan.
$1500 at 9% for 2 years
1 answer:
Assuming simple interest
I=PRT
Interset=principal times rate times time
principal=1500
rate=9%=0.09
time=2
I=1500 times 0.09 times 2
I=1500 times 0.18
I=270
interest=270
total is 1500+270=1770 total paied
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