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JulijaS [17]
3 years ago
6

Dave has a three–year college loan for $10,000. The lender charges a simple interest rate of 6 percent. How much interest will h

e have to pay?
Mathematics
2 answers:
Sonbull [250]3 years ago
7 0
I= 10000*3*0.06 I=1800 is the answer 
Taya2010 [7]3 years ago
6 0

Answer:

$1800

Step-by-step explanation:

Using the formula for simple interest:

A=P(1+rt)

Where:

A = Total Accrued Amount (principal + interest)

P = Principal Amount

r = Rate of Interest per year in decimal

t = Time in years

Substituting the values:

A=10000(1+0.06(3))

A=11800

A is the total accrued amount, which means to find the interest paid over the three years, subtract the principal amount. So the interest is 11800-10000=1800

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