Register
Mr. Morris borrowed $25,000 from the bank. The time of the loan was 4 years. How much will he pay if the interest rate is 5.25%? (Use simple interest.)
34.5k views
0 votes
Mr. Morris borrowed $25,000 from the bank. The time of the loan was 4 years. How much will he pay if the interest rate is 5.25%? (Use simple interest.)

User Suneesh Ambatt
by
5.6k points

1 Answer

6 votes
I think the answer is 5,250.
25,000 x 4 x 5.25%
5.25/100 = 0.0525
25,000 x 4 x 0.0525 is 5,250.
User Roman Traversine
by
4.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.7m questions

7.5m answers

Other Questions

Aliyah has $24 to spend on seven pencils. After buying them she had $10. How much did each pencil cost?
Evaluate a + b when a = –16.2 and b = –11.4 A. –27.6 B. –4.8 C. 4.8 D. 27.6
What is the value of x? (-4) - x = 5
Can someone help me with 5??? ASAP?
Solve for h 3h=7(2/7-3/7h)-10
Link Copied!