in order to start a small business a student takes out a simple interest loan for $8,000 for 6 months at a rate of 6.25%, how much interest must the student pay and find the future value of the loan round

Lee McAlilly asked Sep 2, 2022

259,650 views

21 votes

Lee McAlilly asked Sep 2, 2022

2.9k points

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

25 votes

Answer:

The student must pay 4247.5 - 4000 = 247.50 dollars in interest

Explanation:

Ahmad Aghazadeh answered Sep 8, 2022

3.0k points

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers