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3 years ago

$750 loan 7% a year three years of no payments how much interest are you paying?

Mathematics

1 answer:

Anastaziya [24]3 years ago

5 0

Answer:

$157.50

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 7%/100 = 0.07 per year,

then, solving our equation

I = 750 × 0.07 × 3 = 157.5

I = $ 157.50

The simple interest accumulated

on a principal of $ 750.00

at a rate of 7% per year

for 3 years is $ 157.50.

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$750 loan 7% a year three years of no payments how much interest are you paying￼?

$750 loan 7% a year three years of no payments how much interest are you paying?