aikomobolanle aikomobolanle

09-08-2021
Mathematics

contestada

Find the simple interest owed for the loan. $2,550 at 2% for 1 year

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ShotoTodorokiForLife ShotoTodorokiForLife

10-08-2021

Answer:

The simple interest owed is $51

Step-by-step explanation:

The formula for simple interest is I = Prt, with I for interest, P for principle, r for interest rate, and t for time (in years)

The equation is I = 2550(0.02)(1), which is I = 51.

Hope this helps :)

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