Calculate the simple interest on R5000 loan for 3 years at 8.5%p.a interest
R1350
uuuuuuuuuhhhhhhhhhhhhhhhhhhhhhhhh heck i aint got a clue
OMG, the bot again fails in simple arithmetic
Intereset = 5000(.085)(3) = 1275
right i go on here all the time and it gives me 50s like what the heck
um question do u know the answers to okay im in pearson and tried 4 times and still cant get it right i need to get at least 4 out of five the name of the quiz is features formed from water do yall know the answer?
To calculate the simple interest on a loan, you can use the following formula:
Simple Interest = Principal x Rate x Time
Principal: R5000 (the initial loan amount)
Rate: 8.5% per annum (percentage per year)
Time: 3 years (the duration of the loan)
To get the answer, follow these steps:
Step 1: Convert the rate from a percentage to a decimal.
8.5% = 8.5/100 = 0.085 (decimal form)
Step 2: Plug the values into the formula.
Simple Interest = 5000 x 0.085 x 3
Step 3: Calculate the simple interest.
Simple Interest = R1275
Therefore, the simple interest on a R5000 loan for 3 years at an 8.5% per annum interest rate is R1275.