SOLUTION: a company borrows 81000 for 5 years at a simple interest rate of 7.5%. find the interest paid on the loan and the total amount paid.

SOLUTION: a company borrows 81000 for 5 years at a simple interest rate of 7.5%. find the interest paid on the loan and the total amount paid.

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Question 818463: a company borrows 81000 for 5 years at a simple interest rate of 7.5%. find the interest paid on the loan and the total amount paid.
Answer by Abdullahi2 hassan mamman(4) (Show Source): You can put this solution on YOUR website!
Intres = PTR/100
=81000*5*7.5/100
=30375
Amount = P + I
=81000+30375
=48375
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