Please find the Total amount they should have to pay back 2,300 at 7%for 9 years

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asked Sep 3, 2018 185k views

1 Answer

ErVeY · Answer 1 · 2018-09-08T13:49:08+0000

for simple interest it is

I=PRT
I=interest
P=princiapl
r=rate in decimal
t=time in years

ok find interest

I=PRT
I=(2300)(0.07)(9)
I=1449

total=borrowed+interest=2300+1449=3749

total amount will be $3749

Please find the Total amount they should have to pay back 2,300 at 7%for 9 years

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