Register
3) Kelsey takes out a loan for $6000 to start a business after high school. The bank charges her 8% interest for the loan. After 5 years how much interest will be added on to the loan?
137k views
10 votes
3) Kelsey takes out a loan for $6000 to start a business after high school. The bank

charges her 8% interest for the loan. After 5 years how much interest will be added
on to the loan?

User Kunal Kumar
by
4.4k points

1 Answer

2 votes

Answer:

$2400

Explanation:

SIMPLE INTEREST = (P × T × R)/100

= (6000 × 5 × 8)/100

= 2400

User Ameerah
by
4.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

4.6m questions

5.9m answers

Other Questions

The school that Micaela goes to is selling tickets to an annual dance competition. On the first day of ticket sales the school sold 7 senior citizen tickets and 8 student tickets for a total of $115. The
Help easy for you but not for me!
How many downloads did song 1 have at minute 3?
The Pythagorean Theorem is an equation that helps you to find the lengths of a right triangle. The legs are given as a and b while the hypotenuse is labeled in the theorem's formula: a2+b2=c2 If you know
GIVING 15 POINTS!!!!!!! Jose is going to the store to buy candles. Small candles cost $3 each and large candles cost $5 each. He needs to buy at least 25 candles, and he can spend no more than $120. Which
Link Copied!