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Sagot :
Andrew has to pay his school loan debt of $4,000
How to determine school loan interest?
The interest rate on the loan is 5 percent.
So, [tex]\frac{5}{100}[/tex] ($20,000)
= $1.000
The loan term is 4 years.
So, (4) ($ 1.000) = $4.000
There are several options for this question:
- Option a .$800. This choice is not appropriate because it does not match the amount of interest on the loan that must be paid by Andrew.
- Option B. $4,000. This choice is right because it is in accordance with the amount of loan interest that must be paid by Andrew.
- Option C. $10,000. This choice is not appropriate because it does not match the amount of interest on the loan that must be paid by Andrew.
Learn more about percent here: https://brainly.com/question/29056916
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