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labwork [276]
3 years ago
10

Ann took out a loan at the Bank of Florida with a principle amount of $7,000.00, at an interest rate of 6.5% for 3 years. What i

s the amount of her interest?
Mathematics
1 answer:
NARA [144]3 years ago
6 0
Is it 6.5% per year?
Amount   = Principle (1+rate*time) 
<span>  22365   =         7000(1.065 * 3)
    Interest = 22365 - 7000 = 15365</span>
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