Question

He signed a promissory note with a term of three years the principal was $12,800 with interest at 12.5% how much did BP pay in interest on the note and on the maturity date how much did bo4 principal

Answer 1

$48,000

Explanation:

Step one:

given data

Principal= $12,800

rate= 12.5%

time = 3 years

Required

The Interest

Step two

SImple interest= PRT/100

substitute

SI= 12800*12.5*3/100

SI=480000/100

SI=$48,000