Casey has a loan for $400 at a rate of 13% annually. If the interest is not compounded, how much interest will he pay in 3 years

Question

3 years ago

12

?
A) $15.60
B) $52.00
C) $156.00
D) $556.00

need help

2 answers:

Drupady [299] · Answer 1 · 2021-12-13T03:41:43+03:00

4 0

$400 * 0.13 * 3 = $156

answer is <span>C) $156.00 </span>

bagirrra123 [75] · Answer 2 · 2021-12-13T06:01:20+03:00

4 0

Answer:

$156.00

Step-by-step explanation:

i = prt = (400)(0.13)(3) = 156

Use the formula i = prt, where

p = principal or starting amount

r = interest rate expressed as a decimal

t = time in years