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08-12-2020
Mathematics

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ohn needs money so he borrows $1,000 for 5 years at 6% simple interest. How much money will he have to pay back in all? (simple interest formula only gives interest, one extra step here) I=PRT

Respuesta :

10213457 10213457

08-12-2020

Answer:

i = prt

p = principle amount = 6000

r = rate of interest = 7% = 0.07

t = years = 4

i = 6000*0.07*4 =1680

Step-by-step explanation:

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