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9 March, 20:34

mr albert is taking out a $5,000 loan to pay for graduation school the bank charge mr albert 12% simple interest per year it take mr albert 6 years to pay off the loan

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  1. 9 March, 23:03
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    Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P (1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time. Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P (1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time.

    A=p (1+rt) = 5000 (1+0.12*6)

    =500 (1.72)

    =8600
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