3 200
t = 4 years
9.8 % simple interest
Simple interest equation
A= P (1 + rt )
A= Accrued Amount (principal + interest)
P= Initial Amount = 3200
r= % Interest =9.8 %
t = years = 4 years
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Can you see the updates?
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A= P (1 + rt )
A= 3200 * (1 + 0.098* 4)
A= 4454.4
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Answer
he owed the bank $ 4454.4
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Do you have any questions regarding the solution?