(a) i = Prt = 5600 * 0.085 * 6
(b) 5600 + (a)
(c) (b)/72
1. Mr. Thimbrel borrowed $5,600 from the bank at 8.5% per annum simple interest for 6 years. Calculate:
a) The sum of money paid in interest to the bank.
b) The total amount of money repaid to the bank.
c) The value of each monthly installment
2 answers
96.00
1 answer