Question

Alexton the Skeleton borrowed $4000 or 5 years
at a 6% simple interest rate to pay for his band
equipment. How much interest is that?

Answer 1

Answer: $1,200

Step-by-step explanation:

If you use the simple interest formula, I = (p)(r)(t), you’ll replace it with I = 4,000 x 0.06 x 5 it’ll give you $1,200 :)