JiggaJuice JiggaJuice

07-04-2017
Mathematics

contestada

Dave has a three-year college plan loan for $10,000. the lender charges a simple interest rate of 6%. How much interest will he have to pay?

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selenamohammed1 selenamohammed1

07-04-2017

Simple Interest = Principle × time × rate
10000 × 3 × 6% = 1800

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07-04-2017

The interest he will have to pay is: 0.06×10000=600
The interest he will have to pay is $600

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