Question

Ari borrowed $20000 and paid it back over 6 years. The simple interest rate was 15% annually. How much interest did Ari pay over the six years? Pls explain, and I will make brainliest

Answer 1

It would cost $18,000
20,000 x 0.15 = 3,000
3,000 x 6 = 18,000

Answer 2

Answer:

$18,000

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 15%/100 = 0.15 per year,

then, solving our equation

I = 20000 × 0.15 × 6 = 18000

I = $ 18,000.

The simple interest accumulated

on a principal of $ 20,000.

at a rate of 15% per year

for 6 years is $ 18,000.