QRB 501-Enrique borrowed $3600 to put a down payment
Question # 00518340
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Updated on: 04/27/2017 03:05 AM Due on: 04/27/2017
Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interest rate of 8% for 2 years. Use the formula I = prt to find the amount of interest he will pay on the loan.
I = interest; p = principal; r = rate (expressed as a decimal 0.08); t = time in years
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Solution: QRB 501-Enrique borrowed $3600 to put a down payment