SOLUTION: a company borrows 91,000 for 6 years at a simple interest rate of 12.5% find the interest paid on the loan and the total amount paid

SOLUTION: a company borrows 91,000 for 6 years at a simple interest rate of 12.5% find the interest paid on the loan and the total amount paid

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Question 692055: a company borrows 91,000 for 6 years at a simple interest rate of 12.5% find the interest paid on the loan and the total amount paid
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
i=Prt
i=91000*0.125*6
i=$68250
Total
91000+68250=$159,250
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