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?
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

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
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
Link Copied!