lizzthequeen07 lizzthequeen07

14-09-2020
Mathematics

contestada

Find the balance: $4762 with a simple interest rate of 2.3% at 7 years. Can someone explain simple interest rate?

Respuesta :

akshaj52 akshaj52

14-09-2020

Answer:

I am pretty sure its $766.68

Step-by-step explanation:

Simple interest is one way that interest can be calculated on a loan or investment. ... The standard formula is I = Prt, with “p” being the principal on the loan, “r” being the rate at which interest is being charged, and “t” being the time over which interest is being charged.

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