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J has a loan of $42,350. This loan has a simple interest rate of 8% per year. What is the amount of interest that will be charged on this loan at the end of two years?
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4 votes
J has a loan of $42,350. This loan has a simple interest rate of 8% per year. What is the amount

of interest that will be charged on this loan at the end of two years?

User Erlesand
by
6.6k points

1 Answer

4 votes

Answer:

6776

Explanation:

8℅ = 0.08

0.08 x 42350 = 3388

3388 x 2 = 6776

User Pepero
by
6.9k points
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