Question

Find the total paid on a $65,000 loan with 6% simple interest for 4 years

Answer 1

**If the interest is by year then this should work

The interest is $15600 and the amount is $80600.

Explanation:

Problem

You deposit $65000 into a bank account paying 6% simple interest per year. You left the money in for 4 years. Find the interest earned and the amount at the end of those 4 years?

Result:

The interest is $15600 and the amount is $80600.