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I need Financial Algebra help What is the total interest on a ten-year 6.1% loan with a principal of $32,000?

I need Financial Algebra help What is the total interest on a ten-year 6.1% loan with a principal of $32,000?
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I need Financial Algebra help

What is the total interest on a ten-year 6.1% loan with a principal of $32,000?

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User Sam Pettersson
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1 Answer

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I=Prt \\P=\$32,000 \\r=6.1\% \\t=10 \\ \\I=Prt=\$32,000*6.1\%*10=\$32,000* (6.1)/(100) *10=\$19,520
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User Qiuxiafei
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