Asked by Kay

Nick borrowed $7150, to be repaired at an annual simple interest rate of 6.25%. How much interest will be due after 5 years? How much will Nick have to repay?
Answered by Damon
5 * .0625 * 7150 = interest due

total = interest due + 7150
Answered by Ms. Sue
I = PRT

I = 7,150 * 0.0625 * 5

I = ?

Answered by Daniella Felice
2,234