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16 March, 19:33

Mai borrowed $12,000 at 5% interest for 6 years.

What was the total interest Mai paid?

$

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Answers (1)
  1. 16 March, 21:49
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    So if it is simple interest then

    basically you are looking for the interest paid so

    5%=5/100=0.05

    assuming that the interest is calculated yearly

    (12000 times 0.05) times 6 because 6 years so

    if you calculate that out then you get 3600

    Mai paid $3600 total
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