Mary borrowed $3,000 from the bank with a simple interest rate of 6% How much interest will Mary owe after one year? How much interest will Mary owe after four years? How much w…

Question

asked Jan 12, 2021 10.3k views

1 Answer

Haroun Mohammedi · Answer 1 · 2021-01-16T21:19:24+0000

Answer:

She will owe $180 of interest after one year.

She will owe $720 of interest after four years.

She will need to pay the bank $3,720 to completely pay off the loan.

Explanation: