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Mr. Jenkins borrowed $600 at a simple interest rate of 4%. He wants to repay the loan in 3 years. What is the total amount that mr.jenkins will repay ?

Mr. Jenkins borrowed $600 at a simple interest rate of 4%. He wants to repay the loan in 3 years. What is the total amount that mr.jenkins will repay ?
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Mr. Jenkins borrowed $600 at a simple interest rate of 4%. He wants to repay the loan in 3 years. What is the total amount that mr.jenkins will repay ?

User Dion Segijn
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He will repay $72. 600x4% (0.04)x3=72. He will repay 72 dollars back.
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User Jacek Krawczyk
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