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$8000 is borrowed at 6.2% p.a. Simple interest for 4 years. What is the total amount owed over 4 years??

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asked Jun 24, 2019 232k views

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$8000 is borrowed at 6.2% p.a. Simple interest for 4 years.

What is the total amount owed over 4 years??

Mathematics
high-school

Safhac asked

by Safhac

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The total amount owed after 4 years is $8000 plus the simple interest:

$8000 + $8000(0.062)(4) = $9984

Christopher H answered Jun 28, 2019

by Christopher H

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$8000 is borrowed at 6.2% p.a. Simple interest for 4 years. What is the total amount owed over 4 years??

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