Becky borrows $4,500 for 6 years at a rate of 6 1/2%. How much interest will she owe?

Kirsten Mcintyre

Kirsten Mcintyre

Answered question

2022-09-01

Becky borrows $4,500 for 6 years at a rate of 6 1/2%. How much interest will she owe?

Answer & Explanation

Karma Estes

Karma Estes

Beginner2022-09-02Added 11 answers

So formula used for simple interest
S . I = P R T 100 P = 4500 ,   R = 6 1 2 % = 6.5 % ,   T = 6  years S . I = 4500 × 6.5 × 6 100 S . I = 45 × 39 S . I = $ 1755

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