Ask Question
12 February, 12:31

Laura borrowed $48,000 at a 6% interest rate for 7 years. what was the total interest?

+1
Answers (1)
  1. 12 February, 15:04
    0
    Principal Amount P = $ 48000

    Rate of interest r = 6% = 0.06

    Time interval t = 7

    Formula for Interest I = P x r x t = > I = 48000 x 0.06 x 7 = > I = 2880 x 7

    Total Interest for seven years would be $20,160
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Laura borrowed $48,000 at a 6% interest rate for 7 years. what was the total interest? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers