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Answered

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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 :

prunez24

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
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