charlotteharris76 charlotteharris76

17-02-2021
Mathematics

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Chris borrows £6000 at a simple interest rate of 10% per year.
He pays the money back after 4 years.
How much does he pay back in total?

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sqdancefan sqdancefan

18-02-2021

9514 1404 393

Answer:

£8400

Step-by-step explanation:

The amount due after t years is ...

A = P(1 +rt)

A = £6000(1 + 0.10·4) = £6000·1.40

A = £8400

Chris pays back £8400 in total.

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