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$7,400 at 10.5% for 4 years
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6 votes
$7,400 at 10.5% for 4 years

User Gleb Belyaev
by
3.4k points

1 Answer

9 votes

Answer:

$3108

Explanation:

Use the formula: Interest = Principal(rate)(time)

I = Prt

P: 7400

t: 4

r: 10.5% convert to a decimal 10.5/100 = 0.105

I = 7400(4)(0.105)

I = 3108

User Niemiro
by
3.6k points
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