SOLUTION: You borrow $1200 to buy a piano. The simple interest rate is 12%. You pay off the loan after 4 years. How much do you pay for the loan?

SOLUTION: You borrow $1200 to buy a piano. The simple interest rate is 12%. You pay off the loan after 4 years. How much do you pay for the loan?

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Question 1111561: You borrow $1200 to buy a piano. The simple interest rate is 12%. You pay off the loan after 4 years. How much do you pay for the loan?

Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
The $1,200 loan include principle and interest

and

and

He paid $389.19 for the loan
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check:

and

OK
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