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Please find the Total amount they should have to pay back 2,300 at 7%for 9 years
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Please find the Total amount they should have to pay back 2,300 at 7%for 9 years

Please find the Total amount they should have to pay back 2,300 at 7%for 9 years-example-1
User Quapka
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1 Answer

5 votes
for simple interest it is

I=PRT
I=interest
P=princiapl
r=rate in decimal
t=time in years

ok find interest

I=PRT
I=(2300)(0.07)(9)
I=1449


total=borrowed+interest=2300+1449=3749

total amount will be $3749
User ErVeY
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6.9k points
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