Amanda borrows £1200. She has to pay 21% per year simple interest. How much interest will Amanda have to pay in 3 years?

Question

asked Dec 16, 2022 17.6k views

2 Answers

Existe Deja · Answer 1 · 2022-12-19T02:59:38+0000

Using the equation of compound interest, i.e.;
A=P(100+%/100)
We simplify and substitute, and get:
A= 2125.8732
So, you answer is £2125.8