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Mark takes out a loan for 30000 to add on a new exam room for his practice if the bank charges 5.4% interest how much interest will he pay in 5 years?

Mark takes out a loan for 30000 to add on a new exam room for his practice if the bank charges 5.4% interest how much interest will he pay in 5 years?
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Mark takes out a loan for 30000 to add on a new exam room for his practice if the bank charges 5.4% interest how much interest will he pay in 5 years?

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User Saurabh Wadhwa
by
8.3k points

2 Answers

0 votes

Answer:

He will pay $8,100 in 5 years.

Explanation:

5.4 x 5 =27%

30,000 x 0.27 = $8,100

answered
User Matthew Rudy
by
7.3k points
5 votes
5.4% of 30,000 is 1620 per year
1620×5=8100 after 5 years
answered
User Tobias Schlegel
by
7.4k points
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