Henry took out a 4 year loan for 5,000 and payed 4.2% simple annual interest. Ingrid took out a 6 year loan for 5,000 and payed
3.9% simple annual interest. What is the difference between the mounts of interest Henry and Ingrid payed for their Loans
1 answer:
Answer:
Ingrid pays 330 more than Henry.
OR
Henry pays 330 less than Ingrid.
Step-by-step explanation:
SI = Simple Interest
P = Principal
R = Rate
T = TIme
Henry
=> SI = P x R x T / 100
=> SI = 5,000 x 4 x 4.2 /100
=> SI = 50 x 4 x 4.2
=> SI = 200 x 4.2
=> SI = 840
Ingrid
=> SI = P x R x T / 100
=> SI = 5,000 x 6 x 3.9 / 100
=> SI = 50 x 6 x 3.9
=> SI = 300 x 3.9
=> SI = 1170
1170 - 840
=> 330
Ingrid pays 330 more than Henry.
OR
840 - 1170
=> -330
Henry pays 330 less than Ingrid.
You might be interested in
Answer:
A) log(jk2y = 7log i + 2logk
Step-by-step explanation:
x²(x - 4)(2x + 5) = 0
x² = 0 or x - 4 = 0 or 2x + 5 = 0
√x = √0 or x = 4 or 2x = -5
x = 0 x = 
Answer: 0, 4, 
Answer:
10-20 dollars per hour
Answer:12
Step-by-step explanation:
12w
Answer:
yeet
Step-by-step explanation:
yeet yeet yeet yeet yeet yeet yeet yeet yeet eet yett yeet yeet yeet yeet yeet yeet yeet yeet yeety