Math Question: Rita has a loan of $45,580 for one year. This loan has a simple interest rate of 4% per year. What is the amount of interest that Rita will be charged at the end of this loan?
Asked By C-Note On 04/08/2020 17:02
Math Answers
Interest = Principle *rate*time ( Note: rate must be a decimal 4% = 4/100 = .04)
Interest = 45580*.04*1
Interest = $1823.20
Answered On 04/08/2020 17:23
Answered On 04/08/2020 17:23
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