Question

Vidal borrows $25,000 from the bank to fund his college education. The interest rate is
6.8%. How much interest will he accrue over four years?

Answer 1

The amount of interest he would accrue over the four years is $6800.

What is the interest?

Interest is the cost of borrowing. It is the amount of money that the borrower pays the lender for use of his funds.

Interest = amount borrowed x interest rate x number of years

25,000 x 4 x 0.068 = $6800

To learn more about interest, please check: https://brainly.com/question/26164549

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