Arntt1978
contestada

Casey borrowed $4500 at a 5% interest rate for 4 years.
What was the total interest?
Enter your answer in the box.
Hint: Use the formula l=P*R*T where
I= Interest Earned/Owed
P= Principal
R= Rate
T= Time

Respuesta :

sqdancefan

Answer:

  $900

Step-by-step explanation:

Put the numbers in the formula and do the arithmetic.

  I = PRT

  I = ($4500)(0.05)(4) = $900

The total interest was $900.

AbegaiI

[tex]\large\tt\green{Answer}[/tex]

  • The total interest was $900

[tex]\large\tt\green{Step-by-step \: explanation}[/tex]

Step 1:

Put the numbers in the formula and do the arithmetic.

  • I = P × R × T
  • I = $4500 × 5% × 4

Step 2:

Rename 5% into decimal

  • I = P × R × T
  • I = $4500 × 0.05 × 4

Step 3:

Solve the problem with the full solution.

  • I = P × R × T
  • I = $4500 × 5% × 4
  • I = $4500 × 0.05 × 4
  • I = $ 900

Therefore, the total interest was $900