217k views
2 votes
Jerry borrowed $4000 for 5 years at 6X simple

interest rate. What will be the total amount that
Jerry paid after 5 years?

2 Answers

2 votes

Answer:

In this question one has to look forward to the information's already given. Based on those given information's the answer to the question can be easily determined.

Principal amount = $4000

Time for which money is borrowed = 5 years

Rate of interest = 6%

Then

Amount of Interest = Principal * Rate * Time

= 4000 * 6% * 5

= 4000 * 6/100 * 5

= 40 * 30

= 1200 dollars

So the amount of interest that needs to be given is 1200 dollars. I hope the naswer and the procedure is clear enough for you to understand.

User Uwe Keim
by
5.4k points
5 votes

Answer:

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Explanation:

User Axel Advento
by
5.0k points
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