Ask Question
2 March, 10:08

You borrow $1900 to buy a refrigerator. The simple interest rate is 11%. You pay off the loan after 5 years. How much do you pay for the loan?

+3
Answers (1)
  1. 2 March, 12:40
    0
    I = PRT is the formula to use for this.

    I = (1900) (.11) (5)

    I = 1045

    1900 + 1045 = 2945

    I need to pay $2945 for the refrigerator.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You borrow $1900 to buy a refrigerator. The simple interest rate is 11%. You pay off the loan after 5 years. How much do you pay for the ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers