Question

Please Help!! Annie borrows $6300 and agrees to pay it back in 3 years. If the simple interest rate is 12%, find the total amount she pays back.

Answer 1

use the interest formula i= Prt

Answer 2

Simple interest is the easiest type to calculate.

She pays 12% per year on the 6,300. That means, her interest is 12/100 times 6,300 per year.

So, find interest for 3 years and then add that to borrowed amount.

Answer 3

Thank you I wasn't sure!

Answer 4

Medal? :)

Answer 5

Thank yo again!