Question

$675 borrowed for six years at an interest rate of 10% how much is interest

Answer 1

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.