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Rich borrows £2500 at a simple interest rate of 8% per annum. How much interest will the loan have gathered after 7 years

Rich borrows £2500 at a simple interest rate of 8% per annum. How much interest will the loan have gathered after 7 years
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rich borrows £2500 at a simple interest rate of 8% per annum. How much interest will the loan have gathered after 7 years

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User Mootmoot
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1 Answer

5 votes

Answer:

I = (£2,500)(.08)(7) = £1,400

answered
User GordonW
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