Interest = principal times rate times time
I = 1750 * 0.048 * 5
Do the second problem the same way.
I'll be glad to check your answers.
Calculate the interest and the total amount.
a)a loan of $1750 at a 4.8% for over five years.
b)an investment of 1500 at 3% per year over three years.
3 answers
1750 x 0.048 x 5 = 420
420