Question

You borrow $25,000 to buy a boat. The simple interest rate is 4%. You pay the loan off after 10 years. What is the total amount you paid for the loan?

Answer 1

Answer:

$principal = 25000 \\ rate = 4\% \\ time = 10years \\ simple \: interest =\frac{principal\times rate \times time}{100} \\ simple \: inerest = \frac{25000 \times 4 \times 10}{100 } \\ => simpl e\: interest = 250 \times 4 \times 10 = 10000 \\ amount = principal + simple \: interest</p><p>= 25000 + 10000 = 35000$

slide for full answer.

Hope it helps you.

PLEASE MARK AS BRAINLIEST...