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If you borrowed​ $8,700 at​ 6% for one​ year, what would your total interest be if you are charged simple​ interest?

If you borrowed​ $8,700 at​ 6% for one​ year, what would your total interest be if you are charged simple​ interest?
asked 134k views
23 votes
If you borrowed​ $8,700 at​ 6% for one​ year, what would your total interest be if you are charged simple​ interest?

asked
User Marvin Kallohn
by
8.4k points

1 Answer

6 votes

Multiply the amount borrowed by the interest rate:


8,700 x 0.06 = 522


Answer: $522

answered
User Daniele Dellafiore
by
8.8k points
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