ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SolveInterest = (Principal*rate*times) I = P*r*t $8550.00 at 11% for 7 years
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$2655.80
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$6583.50
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$6853.50
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$1533.50
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Explanation:
Detailed explanation-1: -Simple interest is calculated with the following formula: S.I. = (P × R × T)/100, where P = Principal, R = Rate of Interest in % per annum, and T = Time, usually calculated as the number of years.
Detailed explanation-2: -You can calculate your total interest by using this formula: Principal loan amount x interest rate x loan term = interest.
There is 1 question to complete.