Start with this formula:
Interest = Principle * Rate * Time
Mrs Ricky borrowed $5,340 at a bank at 9.5% per annum simple interest for 5 years.
(A) the sum of money paid in interest to the bank.
(B) the total amount of money repaid to the bank.
(C) the value of each monthly installment.
6 answers
23000
5,340×9.5×5÷100
5340×9.5×5÷100
Mr. Jackson borrowed $5340 from a bank at 9.5% per annum simple interest for 5 years. Determine: The total amount of money repaid to the bank
I don't know how to do it
1 answer