Leavitt643
Answered

Discover the answers you need at Westonci.ca, where experts provide clear and concise information on various topics. Connect with a community of experts ready to provide precise solutions to your questions quickly and accurately. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is?

Sagot :

pepe11
each year, the interest is 60 000 x 6/100 = 3,600
in 8 years the amount of interests is 8 x 3600 = 28,800
he'll pay $88,800
Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.