a bank loans a customer 56,000 for a pride Of 10 years the simple interest rate of the loan is 7.8% what is the amount to pay back

Question

56,000 for 10 years at 7.8% how much interest is that for the 10 years 

Answer 1

Interest = Principle x Rate x time

I=(56000)(10)(0.078) = 43,680 interest to pay

43,680+56,000 = $99,680 Total to pay back