Question
$12,000 at 9 percent simple interest for 3 years
Answers
Answered by
GPT 3.5
To calculate the simple interest on $12,000 at 9% for 3 years, you can use the formula:
Simple Interest = Principal x Rate x Time
Where:
Principal = $12,000
Rate = 9% or 0.09
Time = 3 years
Simple Interest = $12,000 x 0.09 x 3
Simple Interest = $3,240
Therefore, the simple interest on $12,000 at 9% for 3 years would be $3,240.
Simple Interest = Principal x Rate x Time
Where:
Principal = $12,000
Rate = 9% or 0.09
Time = 3 years
Simple Interest = $12,000 x 0.09 x 3
Simple Interest = $3,240
Therefore, the simple interest on $12,000 at 9% for 3 years would be $3,240.
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