A bank loans a customer $87,000 for a period of 5 years. The simple interest rate of the loan is 4%. What is the total amount that the custo

Question

A bank loans a customer $87,000 for a period of 5 years. The simple interest rate of the loan is 4%. What is the total amount that the customer will need to pay the bank over the 5 years?
Select one:
a. $17400
b. $1,305,000
c. $104,400
d. $12,093,000

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Dulcie 5 years 2021-08-04T13:05:23+00:00 2 Answers 15 views 0

Answers ( )

  1. Bo
    0
    2021-08-04T13:06:26+00:00
    Reply

    Answer:

    A

    Step-by-step explanation:

    87,000 x .04= 3,480

    3,480 x 5= 17,400

  2. thanhha
    0
    2021-08-04T13:06:52+00:00
    Reply

    The answer’s a.$17,400

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