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Dave has a three-year college loan for 10,000 the lender charges a simple interest rate of 6% how much interest will he have to pay
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1 vote
Dave has a three-year college loan for 10,000 the lender charges a simple interest rate of 6% how much interest will he have to pay

User Nokla
by
4.4k points

2 Answers

6 votes

Answer: it’s 1,800

Not 900

Explanation:

User Rich Miller
by
5.3k points
4 votes
S.I = PxRxT / 100
Therefore
S.I.= $10000x3x6/100
=$900

User Nick Vanderbilt
by
5.3k points
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