Eiadr2ianajo Eiadr2ianajo

24-11-2016
Mathematics

Answered

I need Financial Algebra help

What is the total interest on a ten-year 6.1% loan with a principal of $32,000?

Verified Answer :

alsteva alsteva

27-11-2016

\(I=Prt \\P=\$32,000 \\r=6.1\% \\t=10 \\ \\I=Prt=\$32,000\times6.1\%\times10=\$32,000\times \frac{6.1}{100} \times10=\$19,520\)

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