Respuesta :
Option (d), Rebecca requests a $5,000 loan with a four-year term. At the conclusion of the four years, she will pay out the amount in full, including with the finance costs. Rebecca will be required to pay finance costs of $1400 if the lender assesses a 7% simple interest rate.
What Is Simple Interest, Exactly?
The basic interest formula can be used to quickly and simply calculate the amount of interest that will be applied to a loan. The principle, the number of days between payments, and the daily interest rate should all be multiplied to determine simple interest.
The principal is multiplied by the time, interest rate, and time period to determine simple interest. The written formula is "Simple Interest = Principal x Interest Rate x Time." This is the interest calculation formula that is the easiest.
Simple Interest (S.I.) is a formula used to calculate the amount of interest that will be charged on a given principal amount of money at a certain interest rate. For instance, if someone takes out a two-year loan for Rs. 5000 at a rate of 10 p.a., they will be required to pay S.I. on the amount borrowed over those two years.
Amount= (P X R X T)/100
Principal= $5000
Rate= 7%
Time= 4 years
amount= ($5000 X 7 X 4) / 100
= $1400
Learn more about Simple Interest: https://brainly.com/question/25845758
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