10000 at the rate of 5 for 5 years. Determine the total amount borrowed. The Time t is the length of time the money is deposited or borrowed.
Determine the total amount borrowed.
To find the simple interest we multiply 20000 004 1 year. From the details given in the problem Principle P 8000 and R 9 or 009 expressed as a decimal. Simple Interest Calculator A P 1 rt r R100 3875100 003875 per year. Determine the total amount borrowed.