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Jameson is seeking a loan with a simple interest rate of 3% per year. If he wants to borrow $8,000, the interest charge after 4 years will be

Jameson is seeking a loan with a simple interest rate of 3% per year. If he wants to borrow $8,000, the interest charge after 4 years will be
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Jameson is seeking a loan with a simple interest rate of 3% per year. If he wants to borrow $8,000, the interest charge after 4 years will be

asked
User Olegkhuss
by
8.1k points

1 Answer

2 votes

Answer:

$960

Explanation:

8000*0.03=240

240*4=960

answered
User Andi Keikha
by
7.7k points
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