Answer to Question #211197 in Financial Math for Tanvir Shawon

Question

What is the total interest made after 4 years on a simple interest loan that accumulates 13% each year and has original amount was $1350.

Answer 1

$SI=P\times R\times T\\=\$1350\times\frac{13}{100}\times4$

$=\$702$

the total interest made after 4 years is $702