Theresnonamesleft Theresnonamesleft

05-05-2022
Mathematics

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You are starting your own business and decided to take out a simple interest loan for 10,000 from your local bank. The interest rate on this loan is 8.3% for 6 years. How much interest will you pay on this loan?

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anonymous6183 anonymous6183

05-05-2022

I think it’s 51.6% because 8.3% interest at the rate of 6 years is just 8.3 multiplied by 6 which is 51.6

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