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Devon’s mother borrowed $4,000 to have some repairs done on the house. The bank is charging 9% simple annual interest on the loan. How much interest will Devon’s mother owe at t…

Devon’s mother borrowed $4,000 to have some repairs done on the house. The bank is charging 9% simple annual interest on the loan. How much interest will Devon’s mother owe at t…
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2 votes
Devon’s mother borrowed $4,000 to have some repairs done on the house. The bank is charging 9% simple annual interest on the loan. How much interest will Devon’s mother owe at the end of 3 years?

User Sassa NF
by
8.2k points

2 Answers

2 votes

Answer:

1,080

Explanation:

User Dean Meehan
by
8.3k points
3 votes
I=prt
I=4,000×0.09×3
I=1,080
User Will Holtz
by
9.0k points
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