Answered

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
$1,200
$1,500
$800
$1,000
4



Answer :

kyanoma

Answer:

$1,200

Step-by-step explanation:

To calculate interest we use the equation: Principal × Rate × Time

Therefore,

Interest = $4,000 × 0.06 × 5 = $1,200

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