IDNLearn.com provides a comprehensive platform for finding accurate answers. Our platform offers reliable and detailed answers, ensuring you have the information you need.

Damon convinced his aunt to lend him $6,900 to purchase a plasma digital TV. She has agreed to charge only 12 percent simple interest, and he has agreed to repay the loan at the end of one year. How much interest will he pay for the year

Sagot :

Answer:

444

Explanation:

Simple Interest for a year can be calculated using

I = PRT/100

P= Principle amount

R= percent simple interest

T= time

(3700)(12)(1)/100 = 444

Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. Find reliable answers at IDNLearn.com. Thanks for stopping by, and come back for more trustworthy solutions.