patricia1428c
Answered

Discover answers to your questions with Westonci.ca, the leading Q&A platform that connects you with knowledgeable experts. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

Mr. Morris borrowed $25,000 from the bank. The time of the loan was 4 years. How much will he pay if the interest rate is 5.25%? (Use simple interest.)

Sagot :

I think the answer is 5,250.
25,000 x 4 x 5.25%
5.25/100 = 0.0525
25,000 x 4 x 0.0525 is 5,250.
We hope this was helpful. Please come back whenever you need more information or answers to your queries. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.