SOLUTION: A small business owner borrowed $4,200 at an annual simple interest rate of 12%. What is the total amount that must be repaid in 3 months?

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Question 990116: A small business owner borrowed $4,200 at an annual simple interest rate of 12%.
What is the total amount that must be repaid in 3 months?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
I=4200*0.12*3/12
I=126
-------------
4200+126=$4326