If a firm borrows $8 comma 000 from households at an annual interest rate of 6 percent, how much will the firm pay in interest payments each year?

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asked Oct 12, 2021 206k views

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Grll · Answer 1 · 2021-10-18T20:13:03+0000

Answer:

The firm will pay 480 dollars each year as interest payment.

Step-by-step explanation:

The interest amount is calculated by multiplying the rate of interest with the amount borrowed. In problem loan is 8,000 dollars and rate of interest is 6%, so the interest amount will be calculated as follow

Interest payment = 8,000 * 6% = 480 dollars

If a firm borrows $8 comma 000 from households at an annual interest rate of 6 percent, how much will the firm pay in interest payments each year?

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If a firm borrows ​$8 comma 000 from households at an annual interest rate of 6 ​percent, how much will the firm pay in interest payments each​ year?

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If a firm borrows $8 comma 000 from households at an annual interest rate of 6 percent, how much will the firm pay in interest payments each year?