Question

a business borrows $1800 at an interest of 7.25% for 6 years. what is the total that the business will owe?
p×r×t = interest (remember add it to the prin

Explanation:

Step1: Identify values for P, R, T

Principal \( P = \$1800 \), Rate \( R = 7.25\% = 0.0725 \), Time \( T = 6 \) years.

Step2: Calculate Interest using \( I = P \times R \times T \)

Substitute values: \( I = 1800 \times 0.0725 \times 6 \).
First, \( 1800 \times 0.0725 = 130.5 \). Then, \( 130.5 \times 6 = 783 \).

Step3: Calculate Total Amount (Principal + Interest)

Total = \( 1800 + 783 = 2583 \).

Answer:

\$2583