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netineya [11]
3 years ago
15

The office manager of First Tech Support borrowed $25,000 to purchase new computers for employees. The bank charges 6 percent in

terest for 4 years. How much interest will the company pay in all? a. $1,200 b. $1,500 c. $4,800 d. $6,000
Mathematics
2 answers:
marta [7]3 years ago
6 0

Answer:

d. $6,000

Step-by-step explanation:

We have been given that the office manager of First Tech Support borrowed $25,000 to purchase new computers for employees. The bank charges 6 percent interest for 4 years.

We will use simple interest formula to solve our given problem.

I=Prt, where,

I - Amount of interest,

P = Principal amount,

r = Interest rate in decimal form,

t = Time in years.

First of all, we will convert our given interest rate in decimal form.

6\%=\frac{6}{100}=0.06

Upon substituting our given values in simple interest formula, we will get

I=\$25,000*0.06*4

I=\$6,000

Therefore, the company will pay an amount of $6,000 in interest and option 'd' is the correct choice.

storchak [24]3 years ago
3 0
The answer is $6,000, because you multiply the 25,000 times .6 percent for interest, then multiply $15000 times .4 years and $6000 will be what you pay in interest. 
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