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PLEASE ANSWER FAST HAVE TO FINISH TEST BY THE END OF THE DAY: If Micah took out a $5000 loan on a 6-year payment plan and was charged 5% simple interest per year, what is the total amount he would have
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PLEASE ANSWER FAST HAVE TO FINISH TEST BY THE END OF THE DAY:

If Micah took out a $5000 loan on a 6-year payment plan and was charged 5% simple interest per year, what is the total amount he would have to pay back (I = Prt)​

User Minda
by
4.8k points

1 Answer

9 votes

Explanation:

0.05*6=0.3*5000=1500

User Compound Eye
by
6.0k points
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