Posted by **Anonymous** on Monday, March 4, 2013 at 3:51pm.

Andrew has a four-year college loan for $20,000. The lender charges a simple interest rate of 5 percent. How much interest will he have to pay?

simple interest = P × r × t

## Answer This Question

## Related Questions

- math - Belle had the choice of taking out a four year car loan at 8.5% simple ...
- Math - 1. Jacksonville Technical College received $3,445,553 in state aid on ...
- Math - . Jacksonville Technical College received $3,445,553 in state aid on ...
- Math Economics - 1. Jacksonville Technical College received $3,445,553 in state ...
- math - the total amount of interest on this loan of $6000 for 150 days is $210....
- Algebra - The Smiths invested $14,000, part at 3% simple interest and the rest ...
- Business finance - In a discount interest loan, you pay the interest payment up...
- Algebra - Wanda took out a personal loan for $16,000 at 9% simple interest. How ...
- algebra - A total of $6200 is deposited into two simple interest accounts. On ...
- Math - Lisa takes a loan of $10,500 at a 9% simple interest rate for 7 years. a...

More Related Questions