Welcome to Westonci.ca, where your questions are met with accurate answers from a community of experts and enthusiasts. Get immediate answers to your questions from a wide network of experienced professionals on our Q&A platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.
Sagot :
The total amount Sam will pay in all will be $2,400,000
Simple interest
From the question, we are to determine the interest Sam pays in all
Using the simple interest formula,
I = PRT
From the given information,
P = $2,000,000
R = 5% = 0.05
T = 4
Putting the parameters into the formula,
I = $2000000 × 0.05 × 4
I = $400000
The interest Sam will pay is $400,000
The total amount Sam will pay in all will be $2,000,000 + $400,000
= $2,400,000
Hence, the total amount Sam will pay in all will be $2,400,000
Learn more on Simple interest here: https://brainly.com/question/16134508
#SPJ1
We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.