Question

Denis borrowed $6000 at a rate of 9.5% per year. How much did he have to pay after 10 years?
please show workingg

Answer 1

Answer:

we know that,

$\frac{principle \times rate \times time}{100} = interest$

so,

$\frac{6000 \times 9.5 \times 10}{100 } = 5700$

now,

principle+interest=6000+5700=11,700

so he had to pay $11,700