Question

100 points and brainliest if you answer correctly!!

You are getting a personal loan for $10,000 a 7.2% APR that you are going to pay back over 7 years. What is the total paid?

Answer 1

P=10000

R=7.2%

T=7years

Interest be I

$\\ \sf\longmapsto I=\dfrac{PRT}{100}$

$\\ \sf\longmapsto I=\dfrac{10000(7.2)(7)}{100}$

$\\ \sf\longmapsto I=504$

Total paid=10000+504=10504$