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Andy got a loan of $120000 from a bank at a rate of 9% per annum calculate the i for the loan at the end of the first year

Andy got a loan of $120000 from a bank at a rate of 9% per annum calculate the i for the loan at the end of the first year
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1 vote
Andy got a loan of $120000 from a bank at a rate of 9% per annum calculate the i for the loan at the end of the first year

asked
User Heinrich
by
7.7k points

1 Answer

4 votes

Answer:

I=$10800

Explanation:

I=($120000×9×1)÷100

I=$1200×9=$10800

answered
User Wibbly
by
8.4k points
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