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02-01-2020
Mathematics

contestada

Calculate the simple interest paid on a loan of $544 at 3% for three months.

$48.96

$4.80

$4.90

$4.08

Respuesta :

02-01-2020

Answer:

4.08

Step-by-step explanation:

Interest I =Pnr

3 months =3/12 year = n

r = 3%

and, P = 544$

Therefore,

[tex]i = 544 \times (3 \div 100) \times (3 \div 12) \\ \: \: \: = 4.08[/tex]

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