Register
If $195,000 is borrowed for 9 years at an annual simple interest rate of 12.7%, how much interest will be paid if the entire loan is paid off at the end of the ninth year?
85.9k views
3 votes
If $195,000 is borrowed for 9 years at an annual simple interest rate of 12.7%, how much interest will be paid if the entire loan is paid off at the end of the ninth year?

User Colmulhall
by
8.8k points

1 Answer

4 votes
I=prt
I=195,000×0.127×9
I=222,885
User Ricardo Acras
by
8.7k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
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?
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!