Ask Question
11 March, 23:30

Emilio borrows $1200 from a bank with 8% simple interest per year. How much interest will he have to pay back in 2 years?

+5
Answers (1)
  1. 11 March, 23:52
    0
    Simple Interest equation is I=p*r * t

    P = is the principal amount (1200)

    R = is the interest rate per year (8% or 0.08)

    T = time in years (2)

    I = 1200 * 0.08 * 2 = 192.00

    Interest is 192.00
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Emilio borrows $1200 from a bank with 8% simple interest per year. How much interest will he have to pay back in 2 years? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers