1 year ago

24.Julie borrowed $3,500 for 3 years at 7½% simple interest rate.

Mathematics

1 answer:

krek1111 [17]1 year ago

4 0

Answer:

$787.5 = Interest

Solution:

<u>Let's use PRT/100 to find the simple interest.</u>

3500 x 7.5 x 3/100 = Interest
→ 35 x 7.5 x 3 = Interest
→ 35 x 7.5 x 3 = Interest
→ $787.5 = Interest

Hence, the simple interest is $787.5.

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