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2 years ago

15

Jimmy took out a loan for $5,600 to pay for a home repair the bank offered an interest rate of 4.75 % how much interest would sh

e pay after three years???

1 answer:

Serjik [45]2 years ago

7 0

Answer:

$698

Step-by-step explanation:

Given that :

Principal = $5600

Rate = 4.75%

Time = 3 years

Simple interest = principal * rate * time

Simple interest = $5600 * 0.0475 * 3

simple interest = $798

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