Register
Sam has a loan for $1200 at a rate of 9% annually. If the interest is not compounded, how much interest will he pay in 5 years? A) $54.40 B) $108.00 C) $540.00 D) $1740.00
216k views
5 votes
Sam has a loan for $1200 at a rate of 9% annually. If the interest is not compounded, how much interest will he pay in 5 years? A) $54.40 B) $108.00 C) $540.00 D) $1740.00

User Ateszki
by
8.0k points

1 Answer

6 votes
Interest he will pay in 5 years is : 1200 x 9% x 5 + 1200 = 1740$
User ManojGeek
by
6.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.8m questions

11.4m answers

Other Questions

What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
The cost of 5 similar digital cameras and 3 similar video cameras is 3213. Each video camera costs 4 times as much as each digital camera. John buys a digital camera and a video camera. How much does he
Link Copied!