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Doña Ana needs to borrow $5,000 for three years and the interest rate is 12% how...

Doña Ana needs to borrow $5,000 for three years and the interest rate is 12% how much do you owe at the end of the three years? How much of that is the interest?

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Answer #1

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The question will be solve using a Simple Interest formula, that we need to find the amount that Dono Ana pay after 3 years.

Formula for Simple Interest ,   

We have given, Principal=$5000, Rate=12%, Time=3years, SI=?

So, the total amount to be paid at the end of 3 year is $6800, out of which $1800 is the interest.

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