Verified Answer :

SkeltonMcCann

Use I = Prt
where
I = Interest 
P = Principal = $4,000
r = interest rate = 6% = 0.06
t = time = 5 years

I = $4,000 × 0.06 × 5 = $1,200

Jerry borrowed $1,200 for 5 years. Hope this helps!

taskmasters

In this question one has to look forward to the information's already given. Based on those given information's the answer to the question can be easily determined.
Principal amount = $4000
Time for which money is borrowed = 5 years
Rate of interest = 6%
Then
Amount of Interest = Principal Rate Time
                               = 4000 6% 5
                               = 4000 6/100 5
                               = 40 * 30
                               = 1200 dollars
So the amount of interest that needs to be given is 1200 dollars. I hope the naswer and the procedure is clear enough for you to understand.

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