Question

Jerry borrowed $8,000 for 5 years at 6.5% simple interest rate. How much interest is that?

Answer 1

Answer:

$ 2600

Step-by-step explanation:

$p = 8000 \\ r = 6.5\% \\ t = 5 \: \: years$

$\frac{prt}{100} \\ = \frac{8000 \times 6.5 \times 5}{100} \\ = 2600$

Answer 2

The answer is $2600

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