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17 December, 07:15

The formula for finding the interest on a loan is I = prt. Becky borrows $4,500 for 6 years at a rate of 6 1/2%. How much interest will she owe?

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  1. 17 December, 07:39
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    For this case we must use the following equation:

    I = prt

    Where,

    p: principal

    r: derivation of rate

    t: time

    Substituting values we have:

    I = 4500 * (0.065) * 6

    I = $ 1755

    Answer:

    she will owe

    I = $ 1755
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