ArnedyFeliza ArnedyFeliza

09-02-2017
Computers and Technology

Answered

Find the simple interest Jay owes on a five-year student loan of $48,000 with an annual interest rate of 5%.

$2,400

$60,000

$120,000

$12,00

Verified Answer :

DaddyWhale DaddyWhale

09-02-2017

P = $48,000
r (Rate) = 5%
t (Time) = 5 (Years)

Interest = Prt =(48,000)(0.05)(5)= $12,000

The simple interest is $12,000 over the course of 5 years, with an annual interest of 5% and a loan of $48,000

I hope that answers your question! (I'm new to this app so sorry if that's not what you were looking for!)

Answer Link

Related Questions

Can someone please help me

How do chemists test for certain ions

Simplify square root of negative 48

Periodization divides history into

20c 275 12480 WHAT IS C

Considering the new definition of life all but one piece evidence supports the fact that a virus must be referred to as an organism That is

what is the approximate location of Denver Colorado in terms of latitude and longitude

Which statement best describes democratic governments A Individual citizens have no voice in choosing government leaders B Basic civil rights are not guaranteed

What is different about the way the genus and species names are written compared to the other taxa

Identify whether the change represents growth or decay and determine the percentage rate of increase or decrease Y681038x

Web Analytics