Jainspray3659 Jainspray3659

24-02-2021
Mathematics

contestada

Find the total amount due on a simple-interest loan if the principal is $5,000 with a rate of 4% for 12 years.

Respuesta :

Gruumsh Gruumsh

24-02-2021

Answer:

$7,400

Step-by-step explanation:

Multiply 5000 by 0.04 so you know how much interest is for 1 year. Then multiply that number by 12. Then add that number to 5000.

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