Question

Thang decided to borrow ​$9000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 9​%. How much interest will Thang​ pay?

Answer 1

• P=9000
• R=9%
• T=3yrs

Interest

• PRT/100
• 9000(9)(3)/100
• 90(27)
• $2430

Answer 2

2,430

Explanation:

Use the formula:

I=PRT

to find interest

Where P stands for money borrowed

R= Interest Rate

T= Time

First convert 9% to decimal by moving decimal point 2 spaces back:

9% ----> 0.09

Then input it to the equation

I= 9000•0.09•3

Multiply to find answer:

2,430