If you borrow $225 for eight years at an interest rate of 6% how much interest will you pay ?
2 answers:
Answer:
Interest is $108.
Step-by-step explanation:
From the question statement, we observe that
P=$225 , t=8 years and r= 6 percent=.06
Since, we know that I=Prt
Putting the values in the above formula, we get
I=(225)(.06)(8)
I=$108.
Answer:$58.55
Step-by-step explanation:
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Step-by-step explanation:
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