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A company borrows $75,000 for 8 years at a simple interest rate of 7.5%. Find the interest paid on the loan and the total amount paid. The interest paid on the loan is ?

A company borrows $75,000 for 8 years at a simple interest rate of 7.5%. Find the interest paid on the loan and the total amount paid. The interest paid on the loan is ?
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A company borrows $75,000 for 8 years at a simple interest rate of 7.5%. Find the interest paid on the loan and the total amount paid.

The interest paid on the loan is ?

User Channi
by
7.9k points

1 Answer

5 votes
The interest is $58,760.84
The total is $133,760.84
User Splendid
by
8.1k points
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