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Rita has a loan of 45,580.This loan has a simple interest rate of 4% per year. What is the amount of interest rhat rita will be charged on this loan at the end of one year?

Rita has a loan of 45,580.This loan has a simple interest rate of 4% per year. What is the amount of interest rhat rita will be charged on this loan at the end of one year?
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Rita has a loan of 45,580.This loan has a simple interest rate of 4% per year. What is the amount of interest rhat rita will be charged on this loan at the end of one year?

User Register
by
8.1k points

1 Answer

1 vote
total Interest charged
=principle×interest rate×time
I=prt
I=45,580×0.04×1
I=1,823.2
User Thava
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