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Rui Feng borrows $48 000 from a bank that
charges simple interest at a rate of 6% per annum.
Find the total amount of money he has to pay the
bank at the end of 2 years.

Respuesta :

Answer:

$53760

Step-by-step explanation:

Rui Feng borrows $48 000 from a bank that  charges simple interest at a rate of 6% per annum.

Now, we have to calculate the total amount he has to pay the bank at the end of 2 years.

Now, using the formula of simple interest the total amount after 2 years will be

[tex]48000(1 + \frac{6 \times 2}{100}) = 53760[/tex] dollars. (Answer)