khavyapatel khavyapatel

16-08-2021
Mathematics

contestada

3. A student borrows £3500 to be repaid after 3 years. The lender quoted a flat rate of interest
of 6.25%. Calculate the total interest that should be paid.

Respuesta :

Bromine67 Bromine67

16-08-2021

Answer: The total interest is 656.25.

Step-by-step explanation:

T = 3yrs

P = 3500

R = 6.25%

I = PTR/100

= 3500*3*6.25/100

= 65625/100

= 656.25

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