Question

Joe borrowed $7000 from the bank at a rate of 7% simple interest per year how much interest did he pay in six years

Answer 1

Answer:

Joe paid $2,940 in interest after six years.

Step-by-step explanation:

Since Joe borrowed $7000 from the bank at a rate of 7% interest per year. We need to find 7% of 7,000.

7,000 x 0.07 = 490

Since we need to find out how much interest Joe paid after six years, we need to multiply 490 by 6.

490 x 6 = 2,940

Therefore, Joe paid $2,940 in interest after six years.

Hope this helps! :D

Answer 2

Answer:

840

Step-by-step explanation:

2,000(0.07) = 140

find the amount of interest per year

140(6) = 840

hope it helps!