Question

mr albert is taking out a $5,000 loan to pay for graduation school the bank charge mr albert 12% simple interest per year it take mr albert 6 years to pay off the loan

Answer 1

Answer:

Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time.Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time.

A=p(1+rt)=5000(1+0.12*6)

 =500(1.72)

  =8600

Step-by-step explanation: