Question

Ms. Johnson borrows $6,000 to buy a used car. Her loan is for 3 years and has a simple interest rate of 6%. How much total interest will Ms. Johnson pay on her loan? Show your work.

I won't get credit if work isn't shown

Answer 1

i=prt
i=(6000)(.06)(3)
i=$1080

she will pay $1080 in interest on her loan meaning she will have actually paid $7080 instead of just $6000.

Answer 2

I think it might be 7080