Ron is seeking a loan with a simple interest rate of 7% per year. If he wants to borrow $4,500, then how much will he be charged

Question

3 years ago

11

in interest after 3 years?

1 answer:

tresset_1 [31] · Answer 1 · 2022-02-28T04:19:06+03:00

8 0

Answer: He will be charged <u><em>$915 in interest after 3 years</em></u>

Step-by-step explanation:

7% ÷ 100 = 0.07

0.07 × 4500 = 315

315 × 3 = 945

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945 + 4500 = 5445 ( Don't worry about this)