Connect with a knowledgeable community and get your questions answered on IDNLearn.com. Ask your questions and receive comprehensive, trustworthy responses from our dedicated team of experts.

Morgan borrows $4,000 dollars from his mother at a 6% annual simple interest rate and pays her $720 interest after t years. What is the value of t?

2
3
4
5


Sagot :

3 years because 4,000x0.06= $240 every year. 240x3 = $720