3 years ago

Hello is it anyone up here that can help me with my question please

1 answer:

7 0

Simple interest is basically the cost of borrowing money over a period of time. So if you have borrowed $110.00 at 5% for two years, you will multiply the 5% by the two years (presuming that it is 5% annual percentage rate (APR). So, You will multiply the 110 by 10% (or .1) to get $11 dollars of simple interest.

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