Question

Joe borrowed $3,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 6 years?

Answer 1

$1,260

Explanation:

I = Prt

I = 3,000 (0.07) (6)

I = 3,000 (0.42)

I = 1,260

Joe paid $1,260 in 6 years.

Answer 2

1260

Explanation:

I'm not 100% sure this is correct