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If you borrowed $10,000 at 6% interest rate for 1 year, what is the interest payment at the end of the year?
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If you borrowed $10,000 at 6% interest rate for 1 year, what is the interest payment at the end of the year?

User Karel Lenc
by
8.1k points

2 Answers

0 votes

Answer:

$600

Explanation:

$10,000 x 0.06 = $600

User EPQRS
by
8.4k points
7 votes

Answer:

$600

Explanation:

I = prt

I = 10000 x .06

I = 600

User Zamuka
by
8.3k points
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