Is -6.5 a rational number. pls idk and I really need help
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Answer: The cost of loan for Mr. Moh = $6083.48,
Mr.Moh paid $2083.48 interest at the end of the 3 years.
Step-by-step explanation:
Cost of a loan includes original amount and the interest charged on it.
Formula to calculate accumulated amount after t years:
, where P= original amount, r=rate of interest.
Here, P= $4000 , r= 15%= 0.15, t = 3 years
Cost of loan = $6083.48
The cost of loan for Mr. Moh = $6083.48,
Interest = A-P = $(6083.48-4000)= $ 2083.48
Hence, Mr.Moh paid $2083.48 interest at the end of the 3 years