Register
Jack takes out a student loan for $6,000 at a simple interest rate of 11.3% per year. How much total interest will Jack owe at the end of 6 years? Assume he does not make any payments during that time?
136k views
2 votes
Jack takes out a student loan for $6,000 at a simple interest rate of 11.3% per year. How much total

interest will Jack owe at the end of 6 years? Assume he does not make any payments during that time?

User Hamdi Baligh
by
6.4k points

2 Answers

3 votes

Explanation:

6000

100+11.3÷100=1.113

6000x1.113(^6)

=

11405.71

or 11405.70

User BordiArt
by
7.2k points
1 vote

Answer:

$10,068

Explanation:

User Lisa Ta
by
8.2k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.7m questions

11.4m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!