Ask Question
22 August, 22:11

Find the simple interest on a 340% loan at a 7% annual interest rate for 3 years

+1
Answers (1)
  1. 22 August, 22:57
    0
    Answer: $71.4

    Step-by-step explanation:

    Formular for Simple interest (I)

    = Principal x Rate x Time

    From the question, Given that p = 340

    Rate = 7% = 7 / 100

    Time = 3 years

    Slot the values into the formula, then multiply to find Interest.

    I = 340 * 0.07 x 3

    =$71.4

    I hope this is clear
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Find the simple interest on a 340% loan at a 7% annual interest rate for 3 years ...” 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