Question

Sam borrows $5700 at 4.5% simple interest for 3 years. Find the interest

Answer 1

Answer:

The interest is

$ 769.50

Step-by-step explanation:

Simple interest is given by

$I = \frac{P \times R \times T}{100}$

where

P is the principal

R is the rate

T is the time given

From the question

The principal / P = $ 5700

The rate / R = 4.5%

The time given / T = 3 years

So the interest is

$I = \frac{5700 \times 4.5 \times 3}{100}$

$I = \frac{76950}{100}$

We have the final answer as

I = $ 769.50

Hope this helps you