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If you borrow $5.93 for nine years at an interest rate of 6%, how much interest will you pay?
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4 votes
If you borrow $5.93 for nine years at an interest rate of 6%, how much interest will you pay?

User GratefulGuest
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2 Answers

5 votes
i believe the answer is 3.20
User Desmon
by
8.5k points
4 votes
The answer is $3.20
By using the simple interest formula
Simple interest = principal x rate x time (years) all divided by 100
User Pzanno
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