Question

Sarah has a loan for 1800 and rate of 16% annually if the interest is not compared to how much interest will she pay in four years

Answer 1

I = $288

Explanation:

First, converting R percent to r a decimal

r = R/100 = 16%/100 = 0.16 per year,

then, solving our equation

I = 1800 × 0.16 × 1 = 288

I = $ 288.00

The simple interest accumulated

on a principal of $ 1,800.00

at a rate of 16% per year

for 1 years is $ 288.00.