Thang decided to borrow $6000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 7%. How much interest will Thang pay?

Question

Thang decided to borrow ​$6000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of ​7%. How much interest will Thang​ pay?

Sreedevi R. · Accepted Answer

Simple interest = (PRT)/100                      = (6000 × 3 × 7) /100                      = 126000/100                      = $1260

Thang decided to borrow $6000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 7%. How much interest will Thang pay?

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Thang decided to borrow ​$6000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of ​7%. How much interest will Thang​ pay?

1 Expert Answer

Still looking for help? Get the right answer, fast.

OR

RELATED TOPICS

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Cost = $70; Selling price = $182. a. Find the markup. b. Find the rate of markup based on cost.

help with percent problem

Calculating percentage and converting? Too long, so I put it in the description :)

An alloy containing 30%gold is mixed with a 60% gold alloy to get 300 kilograms of alloy that is 50%gold . How many kilograms of each alloy were used?

You have just received word that your original investment of $650 has increased in value by 17%. What is the value of your investment today?

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Thang decided to borrow $6000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 7%. How much interest will Thang pay?