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Math

Answered

find the simple interest on a loan of 75,000 if the loan is given at a rate of 10% per year and is due in 3 years

Sagot :

LEIGHANNVALLESGO LEIGHANNVALLESGO

Answer:

97,500

Step-by-step explanation:

A = P(1 + rt)

wherein,

A = Total Accrued Amount (principal + interest)

P = Principal Amount

r = Rate of Interest per year

t = Time

A = P(1 + rt)

= 75,000(1 + (0.1)(3))

=75,000 (1.3)

A= 97,500

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