Andrew has a four-year college loan for $20,000. The lender charges a simple interest rate of 5 percent. How much interest will he have to pay? simple interest = P × r × t
2 answers:
Given that loan amount P=20000
Interest rate r=5% = 0.05
Time of loan t=4 years
Now to find the interest amount we just plug those values into formula
simple interest = P × r × t
simple interest = 20000* 0.05* 4
simple interest = 1000 * 4
simple interest = 4000
Hence final answer is choice b. $4000.
Letra A Pois 5% De 20.000 É $ 800
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Here is how to work it out:
1 + 5 = 6
36 / (1+5) meaning 36 / 6 = 6
6 * 1 = 6 the smaller number
6 * 5 = 30 the larger number
6 the smaller number + 30 the larger number = 36
The smaller number is 6
The answer is B. Would you like an explanation why?
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Step-by-step explanation:
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