Bill takes a loan of $9,000.00 at a 8% simple interest rate for 6 years.

a. How much interest will he pay after 2 years?

b. How much interest will he pay in total for the loan?

A. $720.00; $3,600.00
B. $1,408.00; $4,224.00
C. $36,000.00; $12,000.00
D. $1,440.00; $4,320.00

Question

Bill takes a loan of $9,000.00 at a 8% simple interest rate for 6 years.

a. How much interest will he pay after 2 years?

b. How much interest will he pay in total for the loan?

A. $720.00; $3,600.00
B. $1,408.00; $4,224.00
C. $36,000.00; $12,000.00
D. $1,440.00; $4,320.00

anonymous · Answer

Hello @INEEDHOMEWORKHELP/CONNEXUS -- It seems you're in quite a hurry. Does this happen to be a question from a quiz/test? We try to advise all new members of OpenStudy to view the Code of Conduct before posting, just to make sure they aren't merely trying to plagiarize. Just in case you've yet to read it, here's a link: http://openstudy.com/code-of-conduct Anyways, welcome to OpenStudy. I would assist you with this problem, but I've been seeing multiple posts of the same question, which raises suspicion, along with the fact that most of them are from Connections Academy as well.

anonymous · Answer

no it is not

anonymous · Answer

D. $1440.00, $4320.00

anonymous · Answer

@lexiuspo0h ... It is against CoC to not only post the answer to the question, but also not giving any explanation as to how you got it.

anonymous · Answer

Oops okay my bad :( New to this site.

amistre64 · Answer

if lexius could provide a method to her solution, itd be appreciated