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Find the interest due on $5,000 at 11% for 3 years.
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1 vote
Find the interest due on $5,000 at 11% for 3 years.

User Dan Horvat
by
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2 Answers

4 votes
For simple interest the answer would be $6650 but for compound interest it would be $6838.16 I hope this helped ^^ (It is $1650 extra for simple interest and $1838.16 for compound)
User Rawling
by
8.7k points
3 votes
I=prt
I=5,000×0.11×3
I=1,650
User Ashkanxy
by
8.3k points
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