Looking for reliable answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Get detailed answers to your questions from a community of experts dedicated to providing accurate information. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Mai borrowed $12,000 at 5% interest for 6 years.



What was the total interest Mai paid?



$


Sagot :

so if it is simple interest then

basically you are looking for the interest paid so
5%=5/100=0.05

assuming that the interest is calculated yearly
(12000 times 0.05) times 6 because 6 years so
if you calculate that out then you get 3600
Mai paid $3600 total