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Kevin takes out a loan for 8000$ at 4.5% simple interest for 48months what amount of simple interest will he have to pay on the loan
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1 vote
Kevin takes out a loan for 8000$ at 4.5% simple interest for 48months what amount of simple interest will he have to pay on the loan

User Magnus Lassi
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3.0k points

2 Answers

5 votes
It’s 360 your welcome
User Wouter Lievens
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3.5k points
6 votes
4.5 divided by 100= 0.045
8000 times 0.045= 360
User Steen
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3.7k points
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