Ask Question
21 June, 19:42

If a firm borrows $8 comma 000 from households at an annual interest rate of 6 percent, how much will the firm pay in interest payments each year?

+2
Answers (1)
  1. 21 June, 20:13
    0
    The firm will pay 480 dollars each year as interest payment.

    Explanation:

    The interest amount is calculated by multiplying the rate of interest with the amount borrowed. In problem loan is 8,000 dollars and rate of interest is 6%, so the interest amount will be calculated as follow

    Interest payment = 8,000 * 6% = 480 dollars
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “If a firm borrows $8 comma 000 from households at an annual interest rate of 6 percent, how much will the firm pay in interest payments ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers