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You borrow $15,000 to buy a tractor. The simple interest rate is 4%. You pay the loan off after 8 years. What is the total amount you paid for the loan?

You borrow $15,000 to buy a tractor. The simple interest rate is 4%. You pay the loan off after 8 years. What is the total amount you paid for the loan?
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4 votes
You borrow $15,000 to buy a tractor. The simple interest rate is 4%. You pay the loan off after 8 years. What is the total amount you paid for the loan?

asked
User Nikolay Hristov
by
8.6k points

1 Answer

3 votes
The answer to this question is 19800
answered
User Juanreyesv
by
9.0k points
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