Ariane borrows $200 on a 6−year loan. She is charged 5% simple interest per year. How much interest is she charged for 6 years?
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Answer:
Step-by-step explanation:
Since our equation is and we want to solve for G, first we divide both sides by the product
, which gives:
So we are left with:
Now we multiply both sides by , which gives:
Which gives us our final formula: