dannyboi2003p9yqwq dannyboi2003p9yqwq

30-09-2018
Mathematics

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Thang decided to borrow $9000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 6%. How much interest will Thang pay?

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jimrgrant1 jimrgrant1

30-09-2018

$1620

calculate simple interest ( I) using I = PRT

where P is the amount borrowed, R is rate of interest and T is time in years

note that R = 6% = [tex]\frac{6}{100}[/tex] = 0.06

I = $9000 × 0.06 × 3 = $1620

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