2 years ago

Adam borrowed $5,600 from the bank. The bank charges 4.2% simple interest each year.

Mathematics

1 answer:

Igoryamba2 years ago

4 0

Answer:

$235.2

Step-by-step explanation:

Given data

Principal= $5,600

Rate= 4.2%

Time= 1 year

The expression for the simple interest is given as

SI= PRT/100

substitute

SI= 5600*4.2*1/100

SI= 23520/100

SI=$235.2

Hence after 1 year he will pay $235.2

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