13-10-2019
Mathematics

contestada

Find the interest on a loan of $4500 at 6 1/2% for six years

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Lucas0226 Lucas0226

13-10-2019

Answer:

$6255

Step-by-step explanation:

10% of 4500 is 45

5% of 4500 is 22.5

45 x 6 = 270 + 22.5 = 292.50

6.5% = 292.5

292.5 x 6 ( years) = 1.755 ( interest earned)

4500 + 1755 = $6255 after 6 years

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