Answer:
Answer: 126316.80
Explanation:
The formula used to solve simple interest is I = Prt
P = 18360
R = 12% (per month)
T = 49 months
Now all you have to do is plug in the numbers:
18360 x 0.12 x 49 = 107956.80
Usually now, the interest is added onto the principal to figure some new amount after 49 month(s). Or 18360 + 107956.80 = 126316.80. For example:
- If you borrowed $18360.00, you would now owe $126316.80
- If you loaned someone $18360.00, you would now be due $126316.80
- If you owned something, like a $18360.00 bond, it would now be worth $126316.80
Hope this helps!
:)