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In order to start a small business a student takes out a simple interest loan for $8,000 for 6 months at a rate of 6.25%, how much interest must the student pay and find the fut…

In order to start a small business a student takes out a simple interest loan for $8,000 for 6 months at a rate of 6.25%, how much interest must the student pay and find the fut…
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in order to start a small business a student takes out a simple interest loan for $8,000 for 6 months at a rate of 6.25%, how much interest must the student pay and find the future value of the loan round to the nearest cent as needed​

in order to start a small business a student takes out a simple interest loan for-example-1
asked
User Nir Kornfeld
by
8.3k points

1 Answer

5 votes

Answer:

The student must pay 4247.5 - 4000 = 247.50 dollars in interest

Explanation:

answered
User Peter Sladek
by
7.4k points
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