find the SI and amount of-
$225 for 3 years 9 months at 16%p.a
SI=simple interest
formula is
Interest = Principal * annual interest rate * number of years
= 225 * 0.16 * 3.75
= 135
Add interest to principal to get final repayment amount.
$225 for 3 years 9 months at 16%p.a
formula is
Interest = Principal * annual interest rate * number of years
= 225 * 0.16 * 3.75
= 135
Add interest to principal to get final repayment amount.