Zwgoosebumpsidn
Answered

Discover new perspectives and gain insights with IDNLearn.com's diverse answers. Find reliable solutions to your questions quickly and easily with help from our experienced experts.

Thang decided to borrow ​$9000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 9​%. How much interest will Thang​ pay?

Sagot :

Prunez24idn

Answer:

2,430

Step-by-step explanation:

Use the formula:

I=PRT

to find interest

Where P stands for money borrowed

R= Interest Rate

T= Time

First convert 9% to decimal by moving decimal point 2 spaces back:

9% ----> 0.09

Then input it to the equation

I= 9000•0.09•3

Multiply to find answer:

2,430
  • P=9000
  • R=9%
  • T=3yrs

Interest

  • PRT/100
  • 9000(9)(3)/100
  • 90(27)
  • $2430
Thank you for using this platform to share and learn. Keep asking and answering. We appreciate every contribution you make. Thank you for choosing IDNLearn.com for your queries. We’re committed to providing accurate answers, so visit us again soon.