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 ​ A bank charges 2.25% per month simple interest on personal loans. If John borrows $6400 for a period of 2 years and 1 month,find the total interest he has

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A bank charges 2.25% per month simple interest on personal loans. If John borrows $6400 for a period of 2 years and 1 month,find the total interest he has to pay.😊☺️😉

 Sep 29, 2015

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 #1
avatar+130516 
+5

I = Prt

 

I = 6400(.0225)(25) = $3600

 

 

 

 

cool cool cool

 Sep 29, 2015

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