SOLUTION: 2. Find the total cost of a sofa if the ticket price was $950 and the furniture store set up a simple interest loan for 2 years with an interest rate of 6.5%.
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Question 486130: 2. Find the total cost of a sofa if the ticket price was $950 and the furniture store set up a simple interest loan for 2 years with an interest rate of 6.5%.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I=950*0.065*2
I=123.50
-------------
950+123.50=$1073.50
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