Question

Ariana borrows $200 on a 6-year loan.She is charged 5% simple interest per year.How much interest is she charged for 6 years?What is the total amount she has to pay back? PLS HELP

Answer 1

Results are below.

Explanation:

Giving the following information:

Principal (P)= $200

Interst rate (r)= 0.05

Time (t)= 6

First, we need to calculate the total interest using the following formula:

I= P*r*t

I= 200*0.05*6

I= $60

Now, the total debt:

Total debt= P +I

Total debt= 200 + 60

Total debt= $260