Respuesta :

Givens.

• The amount borrowed was $100,000.

,

• The time elapsed is 9 months.

,

• The annual interest rate of 4%.

The simple interest formula is

[tex]I=PRT[/tex]

Where P = 100,000, R = 0.04, and T = 9/12.

[tex]\begin{gathered} I=100,000\cdot0.04\cdot\frac{9}{12} \\ I=3,000 \end{gathered}[/tex]

Therefore, the simple interest is $3,000.

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