Register

Margaret owes $7,000 to the bank. The debt grows with simple interest at a rate of 4% per year. How much will Margaret owe after 5 years?

Margaret owes $7,000 to the bank. The debt grows with simple interest at a rate of 4% per year. How much will Margaret owe after 5 years?
1.4k views
15 votes
Margaret owes $7,000 to the bank. The debt grows with simple interest at a rate of 4% per year. How much will Margaret owe after 5 years?

User Tanner Ottinger
by
8.3k points

1 Answer

7 votes

Answer:

I=p×r×t

7000×4÷ 100×5

7000×0.04 ×5

I =1400

User Delon
by
8.7k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you estimate of 4 5/8 X 1/3
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!