Ask Question
4 March, 15:24

How much interest will be paid in 1 year for a loan of $4200 at 8 1/2% simple interest?

+5
Answers (2)
  1. 4 March, 16:52
    0
    Assuming interest paid annually, $4,200 * 1.085 = $4557, therefore total interest paid equals $357
  2. 4 March, 16:56
    0
    I=ptr

    i = (4200) (1) (0.085)

    i = $357

    4200+357

    $4557
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “How much interest will be paid in 1 year for a loan of $4200 at 8 1/2% simple interest? ...” in 📙 Mathematics 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