SOLUTION: what is the intrest paid over two years on 7000 at 25%

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Question 939907: what is the intrest paid over two years on 7000 at 25%

Answer by laoman(51) About Me  (Show Source):
You can put this solution on YOUR website!
From the question,
Interest+=+%28Principal+%2A+Rate+%2Atime%29+%2F+100
Principal = 7000
Rate = 25%
Time =2 years
Therefore Interest+=+%287000%2A25%2A2%29%2F100
=140*25 = 3500 units
QED