Question

Kelsey takes out a loan for $60000 to start a business after high school. The bank charges
her 8% interest for the loan. After 5 years how much interest will be repaid to the bank?

Answer 1

Answer:

$24000

Step-by-step explanation:

Simple Interest = P*R*T/100

S. I. = 60000*8*5/100

S. I= $ 24000