Question

Chris has a loan for $4200 at a rate of 8% annually. If the interest is not compounded, how much interest will he pay in 6 years?

Answer 1

The Answer is $2016.00

Explanation:

i = prt = (4200)(0.08)(6) = 2016

Use the formula i = prt, where

p = principal or starting amount

r = interest rate expressed as a decimal

t = time in years

Answer 2

ur answer for this quarry is 2,016