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Raul borrows $600 at an interest rate of 8% per year for 4 years. How much simple interest will he have to pay?

Raul borrows $600 at an interest rate of 8% per year for 4 years. How much simple interest will he have to pay?
asked 231k views
7 votes
Raul borrows $600 at an interest rate of 8% per year for 4 years. How much simple interest will he have to pay?

asked
User Apetrelli
by
7.8k points

1 Answer

7 votes

__________________________________

A = P × i × n

= $600 × 8% × 4 Years

= $192

= $600 + $192

= $2,619

Raul Will Have To Pay $2,619

__________________________________

answered
User Inputvector
by
7.6k points
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