Ariana borrows $200 on a 6-year loan.She is charged 5% simple interest per year.How much interest is she charged for 6 years?Wha
t is the total amount she has to pay back? PLS HELP
1 answer:
Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Principal (P)= $200
Interst rate (r)= 0.05
Time (t)= 6
F<u>irst, we need to calculate the total interest using the following formula:</u>
I= P*r*t
I= 200*0.05*6
I= $60
<u>Now, the total debt:</u>
Total debt= P +I
Total debt= 200 + 60
Total debt= $260
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