Ask Question
16 August, 15:03

70,000 for 6 years at a simple interest rate of 10,5% find the interest paid on the loan an total paid

+3
Answers (1)
  1. 16 August, 17:47
    0
    A $70,000 loan at 10.5% for six years will accrue interest as follows:

    i = $70,000 (0.105) (6) = $44,100.

    Paying off this loan plus the accrued interest will require $70,000 + $44,100, or $114,000.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “70,000 for 6 years at a simple interest rate of 10,5% find the interest paid on the loan an total paid ...” in 📘 Mathematics 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