kirtipreet1255 kirtipreet1255
  • 18-02-2020
  • Business
contestada

If an amount of $2,000 is borrowed at a simple interest rate of 10% for 3 years, how much is the interest?

Respuesta :

omotayoadekoya1 omotayoadekoya1
  • 20-02-2020

Answer:

$600

Explanation:

The simple interest earned is a function of the principal amount invested, the rate and time. It is given as

I = PRT/100

where I, P, R, T are the simple interest, the principal, rate and time respectively.

Therefore,

I = 2000 × 10 × 3/100

I = $600

Answer Link

Otras preguntas

What is the term that means limiting the amount of goods that could be purchased?
Select the equivalent expression. (8^-5/2^-2)^-4 = ? Choose 1 answer: A. 1/8*2^2 B. 2^6/8^9 C. 8^20/2^8Please
14. Why did crops and animals from the Middle East thrive in Europe and Asia?
if 2257 is the result of subtracting 4577 from 7056 in base n, find n​
Can I please get some help with this
A car is traveling 35 mph on a smooth surface. If a balanced force is applied to the car, what happens?
what is the distance between the points ( - 1 , -3 ) and ( 5 , -2 )
The reed switch is placed between the poles of the strong permanent magnet. State and explain what happens.
please help on 19 and 20
Based on the measures provided in the diagram, determine the measure of AEG