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Wanda took out a personal loan for $16,000 at 9% simple interest how much interest will she pay after 5 years?

Wanda took out a personal loan for $16,000 at 9% simple interest how much interest will she pay after 5 years?
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Wanda took out a personal loan for $16,000 at 9% simple interest how much interest will she pay after 5 years?

User Napseis
by
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2 Answers

4 votes

I = 16000* (9)/(100)*5 = $7200

Hope this helps !

Photon
User Ryan Brunner
by
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1 vote
Interest = $16000 * 9/100 * 5 = $7200
User Prajnavantha
by
8.5k points
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