183k views
4 votes
Darwin borrows $3,000 at an

interest rate of 4%. If he pay the loan
back in 5 years, how much interest will
he pay?

User Tan Wang
by
6.9k points

1 Answer

2 votes

Answer:

Interest = $600

Explanation:

Interest = principal x rate as decimal x time

Interest = 3,000 x 0.04 x 5

Interest = 600

User GinjaNinja
by
6.6k points