$675 borrowed for six years at an interest rate of 10% how much is interest
1 answer:
Answer:$405
Step-by-step explanation:
Simple interest = Principal x Rate x Time
Given that Principal =$675
Rate= 10% = 10/100 = 0.1
Time = 6years
Slot the values into the formula, then multiply:
I= 675 x 0.1 x 6
=$405
Interest of $405 will be paid.
I hope this helps.
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