Question

I = prt
Time = 3 years
Interest Rate = 5%
Principal = $7,430

Use the information to answer the question.
How much interest is paid?

$111.45
$1,114.50
$11,145
$111,450

Answer 1

Answer:

option c 11,145 follars

Step-by-step explanation:

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Answer 2

Step-by-step explanation:

Given,

Time =3 years

Interest rate =5%

principal=$7,430

Therefore,

Interest =PRT/100

=($7,430×5×3)/100

=$111,450/100

=$1,114.50 ans.(b)