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Popular Word Problems >

What is the total interest to be paid on a 1 year 7600 loan at 3.5% p.a. flat interest?

Solution

Wha t i s t h e t o t a l in t eres t t o b e p ai d o n a 1 ye a r 7600 l o an a t 3.5% p . a . f l a t in t eres t ?

Solution

Interest : 266

Solution steps

Translate the problem into an equation:

I = 7600 \cdot 0.035 \cdot 1

Simplify

I = 7600 \cdot 0.035 \cdot 1

Interest : 266

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