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OpenStudy (anonymous):
Yasmeen is setting up a business. She borrows $5000 from a loan company. The loan company charges 6% per year simple interest. How much interest will Yasmeen pay after 3 years?
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OpenStudy (texaschic101):
Interest = Principle * rate * time I = PRT P = 5000 R = 6%....turn to decimal = .06 T = 3 now we sub I = PRT I = (5000)(.06)(3) I = 450 Yasmine will pay $450 in 3 years any questions ?
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