If you borrow $675 for six years at a interest rate of 10% how much interest will you pay
1 answer:
Answer:
the answer is $40.5
Step-by-step explanation:
the basic formula of finding our interest is I = PxRxT
P (principal) = 675
R (rate) = 10% (we have to turn it into a decimal which is 0.010)
T (time) = 6 years
so :
I = 675 x 0.010 x 6
I = 40.5
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