Answered

Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Get the answers you need quickly and accurately from a dedicated community of experts on our Q&A platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

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



What was the total interest Mai paid?



$

Sagot :

apologiabiology
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
We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.