3 years ago

John borrowed $150,500 to start up his business. He borrowed the money at a 7.75% simple

Mathematics

1 answer:

zalisa [80]3 years ago

6 0

Answer:

John have to pay back $23,327.50 at the end of two years

Step-by-step explanation:

Simple Interest (I) = (PRT) ÷ 100

where P = Principal, R = Rate, T= Time

I = ($150500 × 7.75 × 2) ÷ 100

I = ($2332750) ÷ 100

I = $23,327.50

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