Question

Casey borrowed $4500 at a 5% interest rate for 4 years.

Answer 1

Answer:

  $900

Step-by-step explanation:

Put the numbers in the formula and do the arithmetic.

  I = PRT

  I = ($4500)(0.05)(4) = $900

The total interest was $900.

Answer 2

$\large\tt\green{Answer}$

• The total interest was $900

$\large\tt\green{Step-by-step \: explanation}$

Step 1:

Put the numbers in the formula and do the arithmetic.

• I = P × R × T
• I = $4500 × 5% × 4

Step 2:

Rename 5% into decimal

• I = P × R × T
• I = $4500 × 0.05 × 4

Step 3:

Solve the problem with the full solution.

• I = P × R × T
• I = $4500 × 5% × 4
• I = $4500 × 0.05 × 4
• I = $ 900

Therefore, the total interest was $900