# Math

posted by .

find the interest to the nearest cent on a principal of \$1,000 borrowed at a rate of 12.5% annually for 3 years

• Math -

1,000 * 0.125 * 3 = ?

• Math -

375

• Math -

Right! :-)

## Similar Questions

1. ### math

how long will it take to earn \$787.50 on \$5000 at 5 1/4%(percent) what is the rate it is compounded?
2. ### Math

Please check my work, thank you If \$7,800 is deposited into an account paying 6% interest compounded annually (at the end of each year), how much money is in the account after 2 years?
3. ### Math

Find the simple interest. Round your answer to the nearest cent. Principal = \$900 Rate = 4% Time in years = 3
4. ### algebra

The formula for calculating the amount of money returned for an initial deposit into a bank account or CD (certificate of deposit) is given by nt n r P A „Ê„Ë „É „º„» „¹ ƒ­ 1ƒy A is the amount of the return. P …
5. ### math

Find the accumulated amount A if the principal P = \$3,000 is invested at the interest rate of r = 9% per year for t = 5 years, compounded annually. Please round your answer to the nearest cent.
6. ### Simple interest

Find the simple interest earned to the nearest cent for each principal interest rate, and time \$500,4%, 2 years
7. ### Math

You borrow \$2,000 for a period of 4 years. You are charged simple interest at a rate of 3%. How much will you repay at the end of 4 years?