The total amount of interest Von would pay can be calculated using the formula for simple interest:
Interest = Principal * Rate * Time
where Principal is the initial amount borrowed, Rate is the interest rate per year, and Time is the number of years.
In this case, the Principal (amount Von borrowed) is K10000, the Rate is 12% (or 0.12) per year, and the Time is 3 years.
Interest = K10000 * 0.12 * 3
Interest = K1200 per year
Therefore, the total amount of interest Von would pay after 3 years is K1200 * 3 = K3600.
Von borrowed K10000 from a bank at the simple interest of 12% per year which she agrees to repay after 3 years. What is the total amount of interest Von would pay?
3 answers
Von borrowed $10 000 from a bank at a simple interest of 12% per year which she agrees to repay after 3 years. What is the total amount of interest Von would pay?
To find the total amount of interest Von would pay, we can use the formula for simple interest:
Interest = Principal * Rate * Time
In this case, the Principal (amount Von borrowed) is $10,000, the Rate is 12% (or 0.12) per year, and the Time is 3 years.
Interest = $10,000 * 0.12 * 3
Interest = $3,600
Therefore, the total amount of interest Von would pay after 3 years is $3,600.
Interest = Principal * Rate * Time
In this case, the Principal (amount Von borrowed) is $10,000, the Rate is 12% (or 0.12) per year, and the Time is 3 years.
Interest = $10,000 * 0.12 * 3
Interest = $3,600
Therefore, the total amount of interest Von would pay after 3 years is $3,600.
1 answer