Ariana borrows $300 on a 6-year loan. she is charged 5% simple interest per year. How much interest is she charged for 6 years?
what is the total amount she has to pay back? Please fill your answers into in the following sentence.
"After 6 years, Ariane is charged $___ in interest. She pays a total amount of $___.
So first we need to find how much is 5% of 300 , which we can discover by dividing 30p by 100 and multiplying by 5. 300÷100 ×5 = 15 So every year she pays $15 of interests To find out how much she'll pay in 6 years pf interest , we just need to multiply 15 by 6 which is 90. Then just add 90 to the original loan (300) to discover the total she will pay:
After 6 years, Ariane is charged $90 in interest. She pays a total amount of $390.
