Question

I don't understand this can someone help me please​

Answer 1

Total interest to be paid: $210

Total amount to be repaid: $3,710

Explanation:

You can ignore the monthly payment for this problem.

For simple interest, the formula is I = PRT where I = interest earned, P = principal amount borrowed/deposited, R = rate as a decimal, and T = time in years.

I = (3,500)(0.06)(1)

I = 210

Then add that to the amount borrowed ($3,500) and you're done.

3,500 + 210 = $3,710

Please let me know if you have questions.