Asked by Dayana

What is the entire balanced owed for a loan of $750 at a simple interest rate of 4% per year for 1.5 years?

I just don't really know if the $750 is the interest or principle...
Answered by Ms. Sue
In the formula, I = prt, 750 is the principle.

I = 750 * 0.04 * 1.5

Answered by damaris
45
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