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Natasha_Volkova [10]
2 years ago
12

Julie borrowed $3,500 for 3 years at 7½% simple interest rate. How much interest is that?

Mathematics
1 answer:
Paraphin [41]2 years ago
7 0
A=P(1+rt)

P=3500
t=3yrs.
r=7.5% / 100 = 0.075

A= 3500(1 + (0.075 x 3)) = 4287.5

A= $ 4,287.50
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