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Anonymous Anonymous
  • 21-01-2017
  • Mathematics
Answered

How much interest will be paid in 1 year for a loan of $4200 at 8 1/2% simple interest?

Verified Answer :

foggles
foggles foggles
  • 21-01-2017

Assuming interest paid annually, $4,200 * 1.085 = $4557, therefore total interest paid equals $357

Answer Link
hasanahmad368
hasanahmad368 hasanahmad368
  • 21-01-2017

i=ptr
i= (4200)(1)(0.085)
i= $357
4200+357
$4557

Answer Link

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