GraceSuckling10
GraceSuckling10 GraceSuckling10
  • 19-06-2020
  • Mathematics
contestada

Robert gets a loan from his bank. He agrees to borrow £6,000 at a fixed annual simple interest rate of 7%. He also agrees to pay the loan back over a 10-year period. How much money in total will he have paid back at the end of the 10 years?​

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gilbertazavedo72
gilbertazavedo72 gilbertazavedo72
  • 19-06-2020

Answer:

The total amount repayable will be £8,280.24.

Step-by-step explanation:

Use the attached formula

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