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16 November, 23:41

If you borrow $675 for six years at a interest rate of 10% how much interest will you pay

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  1. 17 November, 01:19
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    the answer is $40.5

    Step-by-step explanation:

    the basic formula of finding our interest is I = PxRxT

    P (principal) = 675

    R (rate) = 10% (we have to turn it into a decimal which is 0.010)

    T (time) = 6 years

    so:

    I = 675 x 0.010 x 6

    I = 40.5
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