Use the simple interest formula.
-Find the interest on $4800 borrowed at an interest rate of 4% for one year.
A) $1920
B) $192
C) $4992
D) $1200

Name: Use the simple interest formula. -Find the interest on $4800 borrowed at an interest rate of 4% for one year. A) $1920 B) $192 C) $4992 D) $1200
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Question

Quizplus · Accepted Answer

The interest can be calculated using the formula I = PRT, where I is the interest, P is the principal amount ($4800), R is the rate (4% or 0.04), and T is the time in years (1). So, I = $4800 * 0.04 * 1 = $192.

Use the Simple Interest Formula