Inactive Tutor answered • 05/15/18
Tutor
New to Wyzant
You know the interest rate, which is 5.5. Your question should be how much interest will be earned?
i = prt
i = 12000(.055)6
i = $3960
i = $3960
Chy H.
asked • 05/15/18How do I calculate interest rates?
what is the interest rate given on a simple loan of 12000 given: Principal 1200, Interest rate 5.5, Time 6 years
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