Question

Calculate the simple interest on a loan with a principal of $6,000, an interest rate of 7.39%, and a term of four years.

Answer 1

Hi there

The formula is
I=prt
I interest earned?
P principle 6000
R interest rate 0.0739
t time 4 years
So
I=6,000×0.0739×4
I=1,773.6

Hope it helps

Answer 2

Simple Interest Formula : I = Prt

Answer :

$1773.60