Answer:
correct option is E.$52,440.00
Explanation:
given data
time = 6 year
interest rate = 7.6 percent
principal amount = $115,000
to find out
total interest over the life of the loan
solution
we get here interest that is express as by interest formula that is
interest = principal × rate × time ..........................1
put here value and we get interest
interest = $115,000 × 7.6% × 6
interest = $115,000 × 0.076 × 6
interest = $52,440.00
so correct option is E.$52,440.00
