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Use the simple interest formula, i = prt, to find the simple interest: ken borrowed $6,000 for 4 years at a rate of 7% simple interest per year. how much interest will ken have to pay after paying back the borrowed amount?

User JCVanHamme
by
7.1k points

2 Answers

2 votes

Answer:

Interest = $1,680

Explanation:

I = p · r · t

I = (6,000)(.07)(4)

I = $1,680

User Bubbe
by
8.6k points
4 votes
i = prt
p = principle amount = 6000
r = rate of interest = 7% = 0.07
t = years = 4

i = 6000*0.07*4 =1680

so, ken will have to pay $1680 as the interest.
User Zdenek Hatak
by
8.8k points
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