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8 October, 18:19

Sam has a loan for $1200 at a rate of 9% annually. How much interest will he pay in 5 years?

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Answers (2)
  1. 8 October, 19:03
    0
    Sam will pay $540 as intrest of $1200 @of9% annually in 5 years.
  2. 8 October, 19:29
    0
    Interest: $450

    Step-by-step explanation:

    Hint: I=prt

    p=1200

    r=9% or 0.09

    t=time in years

    1. 1200x0.09x5

    2. 108x5

    3. 450
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