Question

Joe borrowed $8,000 on a one year note at 13%. How much will Joe owe when the note comes due?

Answer 1

Do you know which formula to apply?

Answer 2

nope :/

Answer 3

It seems to me just Simple Interest!
Interest I = ...?

Answer 4

thanks but im still confused

Answer 5

Your part is looking for Simple Interest formula, post here! then I show you next step!

Answer 6

i think simple interest is I = pr
i think the answer is $9040

Answer 7

\[I=P x r x t\]

Answer 8

Correct!

Answer 9

Wait, was my answer right??

Answer 10

Total due: $9,040

Answer 11

ya! thanks Chlorophyll!

Answer 12

thanks

Answer 13

@rmaker408 Would you help Maniac38 to come up with the result :)

Answer 14

of course.