Interest on a loan. Juanita and Carlos borrowed $4800 at a simple interest rate of 11% for a period of 2years. What was the interest?

Original conversation

User: Interest on a loan. Juanita and Carlos borrowed $4800 at a simple interest rate of 11% for a period of 2years. What was the interest?

Weegy: 1056. Juanita and carlos borrowed $4800 at a simple interest rate of 11% for a period of 2 years. what was the interest. [
formula for simple interest: I = PRT,
I = interest, P = principal, R = Rate, T = time
I = 4800 * 0.11 * 2
I = $1056 source: ] piash|Points 3199|

User: David had $4000 INVESTED FOR ONE fourth of a year at a simple interest rate of 6.1%. How much interest did he earn?

Weegy: Interest = Prt
I = 4000*0.061*(1/4) = $61.00
David's interest earned is $61.

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