SOLUTION: To buy a laptop computer, Aline wants to borrow $2000 for 3 years. She lives near two banks.
The first bank offers the amount with a 5% simple interest rate.
1. How much interest
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The first bank offers the amount with a 5% simple interest rate.
1. How much interest
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Question 1159852: To buy a laptop computer, Aline wants to borrow $2000 for 3 years. She lives near two banks.
The first bank offers the amount with a 5% simple interest rate.
1. How much interest will she pay at the end of the third year at an annual simple interest
rate of 5%? Found 2 solutions by mananth, MathTherapy:Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website!
If Aline borrows $2000 for 3 years.
Principal P = 2000
Time n =3 years
rate of interest =5%
Interest = P *n*r
= 2000*3*0.05
=300
She has to pay $ 3,300 at the end of 3 years
You can put this solution on YOUR website!
To buy a laptop computer, Aline wants to borrow $2000 for 3 years. She lives near two banks.
The first bank offers the amount with a 5% simple interest rate.
1. How much interest will she pay at the end of the third year at an annual simple interest
rate of 5%?
