ryleemarie223 ryleemarie223
  • 22-01-2019
  • Mathematics
contestada

Alicia borrowed 3000 dollars from the bank at a rate lf 12% simple interest per year how much interests did she pay in 4 years

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Bananas4bananas Bananas4bananas
  • 25-01-2019
The answer is $1440

Why? So you have to use I=prt (Intrest= principle*rate*time) and we are trying to find the interest so that stays as the variable 'I' but we have all the other numbers. I=3000*.12*4 (.12 because rate must be in fraction or decimal form). Solve and you should end up with $1,440
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