Question 1193382
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Use the simple interest formula
i = P*r*t
i = 10,000*0.08*6
i = 4,800


Mr Charles has to pay $4,800 in simple interest.
This is on top of the principal $10,000 he borrowed.


In total, he pays back 10,000+4,800 = <font color=red>$14,800</font>


Another slightly alternative formula to use is this:
A = P*(1+r*t)
A = 10,000*(1+0.08*6)
A = <font color=red>14,800</font>
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