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RoseWind [281]
2 years ago
15

Xander is starting his own small business. He borrows $10,000 from the bank at a 4% rate for 5 years. Find the interest he will

pay on this loan.
Mathematics
1 answer:
a_sh-v [17]2 years ago
5 0

Answer:

$6000

Step-by-step explanation:

Given data

Principal=$10000

Rate=4%

time=15years

The simple interest id found by

SI=PRT/100

substitute

SI=10000*4*15/100

SI= 600000/100

SI=$6000

Hence the interest is $6000

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BY GERALD GREAT

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