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A bank loans a customer $46,000 for a period of 9 years. The simple interest rate of the loan is 8.9%. What is the total amount that the customer will need to pay the bank over …

A bank loans a customer $46,000 for a period of 9 years. The simple interest rate of the loan is 8.9%. What is the total amount that the customer will need to pay the bank over …
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2 votes
A bank loans a customer $46,000 for a period of 9 years. The simple interest rate of the loan is 8.9%. What is the total amount that the customer will need to pay the bank over the 9 years

asked
User Vishal Sen
by
7.7k points

1 Answer

3 votes
The bank will pay $36,846.
answered
User Kadir Ercetin
by
8.3k points
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