Answered

Find the interest of a P 3 000 loan at 14% per year for 2 years.

Sagot :

Mlcparra16id
[tex]Interest=Principal*Rate*Time[/tex]

Our Principal is P3000, rate is 14% or 0.14 and time is 2 years. The interest is:
[tex]Interest=3000*0.14*2=840[/tex]

The interest is P840.