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Chris has a loan for $4200 at a rate of 8% annually. How much interest will he pay in 6 years?

Chris has a loan for $4200 at a rate of 8% annually. How much interest will he pay in 6 years?
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Chris has a loan for $4200 at a rate of 8% annually. How much interest will he pay in 6 years?

User Sebarmeli
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\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$4200\\ r=rate\to 8\%\to (8)/(100)\dotfill &0.08\\ t=years\dotfill &6 \end{cases} \\\\\\ I=(4200)(0.08)(6)\implies I=2016

User Den Isahac
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7.3k points
2 votes

Answer:

2,016

Explanation:

User Darklighter
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