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16-07-2021
Business

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Ludwig borrowed $700,000 for a
period of 2 years. His interest rate is
10%. How much interest will
Ludwig pay in all?
$[?]

Ludwig borrowed 700000 for a period of 2 years His interest rate is 10 How much interest will Ludwig pay in all class=

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dulcydzantaladlink dulcydzantaladlink

16-07-2021

Answer:

$140000

Explanation:

Principle = $700000

Rate = 10%

Time = 2 years

Simple interest = P x R x T / 100

Simple interest = 700000 x 10 x 2 / 100

Simple interest = 70000 x 2

Simple interest = $140000

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