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Dovator [93]
3 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?
Mathematics
1 answer:
MArishka [77]3 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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