rlmf213
Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Explore our Q&A platform to find in-depth answers from a wide range of experts in different fields. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

aaron borrowed 15 000 that has a simple interest rate of 3.75% .he plans to pay it off in 4 years . how much will he have to pay in interest ........if you see this can you help right away plzzz​

Sagot :

altavistard

Answer:

$2,250 in interest

Step-by-step explanation:

The simple interest formula applicable here is

i = prt, where p is the principal (initial value), r is the interest rate as a decimal fraction, and t is the number of years elapsed.

Here we have i = $15,000(0.0375)(4) = $2,250 in interest

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.