Question

Sam loaned $8,000 to his brother to make a down payment on a new home. Three

Answer 1

Answer:

$1,200 interest.

Step-by-step explanation:

To use the simple interest formula, I = Prt, we substitute in the values for variables that are given, ... Do you know that banks pay you to let them keep your money? ... Find the rate if a principal of $9,000 earned $1,755 interest in 3 years. ... Five years later, she paid him back the $8,000, plus $1,200 interest.