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2 years ago

8

A bank loans a customer $66,000 for a period of 5 years. the simple interest rate of the loan is 10.5%. what is the total amount

that the customer will need to pay the bank over the 5 years?

1 answer:

MArishka [77]2 years ago

6 0

66,000*0.15
9,900*5
49,500+66000
The answer is 115.500
I'm not sure if the whole thing is correct, but here is the easier way:
66,000(1+1.15)^5

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