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Yasmeen is setting up a business. She borrows $5000 from a loan company. The loan company charges 6% per year simple interest. How much interest will Yasmeen pay after 3 years?
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5 votes
Yasmeen is setting up a business.

She borrows $5000 from a loan company.
The loan company charges 6% per year simple interest.
How much interest will Yasmeen pay after 3 years?

User Sumanchalki
by
5.4k points

1 Answer

7 votes
5000 x 6% =300
300 x 3 = $900
User Jon Cahill
by
5.0k points
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