SOLUTION: What interest will you pay on a $7900 loan for 1 year if the interest rate is 11%?

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Question 32940: What interest will you pay on a $7900 loan for 1 year if the interest rate is 11%?
Answer by sarah_adam(201) About Me  (Show Source):
You can put this solution on YOUR website!
I = %28P%2AT%2AR%29%2F100
here P = $7900
T = 1 year and R = 11
therfore I = %287900%2A1%2A11%29%2F100
I = $869