Question

If you borrow $675 for six years at an interest rate of 10%, how much interest will you pay?

Answer 1

The formula for simple interest is
I = Pnr

I = interest
P = principle amount  = $675
n = number of years = 6
r = rate of interest = 1% = 0.01

So, I = 675*6*0.1 = 405

so your Interest will be $405 after 6 years.