Wanda took out a personal loan for $16,000 at 9% simple interest how much interest will she pay after 5 years?

2 answers:

6 0

Interest = $16000 * 9/100 * 5 = $7200

5 0

$I = 16000* \frac{9}{100}*5 = $7200$

Hope this helps !

Photon

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