juvohnww juvohnww
  • 17-05-2018
  • Mathematics
contestada

Ann took out a loan at the Bank of Florida with a principle amount of $7,000.00, at an interest rate of 6.5% for 3 years. What is the amount of her interest?

Respuesta :

ladiemath ladiemath
  • 17-05-2018
Is it 6.5% per year?
Amount   = Principle (1+rate*time) 
  22365   =         7000(1.065 * 3)
    Interest = 22365 - 7000 = 15365

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