## Osvaldo wants to go to school to be a reporter. He takes out a loan for $140,000. The interest rate on this will be 3% for 4 years. What Question Osvaldo wants to go to school to be a reporter. He takes out a loan for$140,000. The interest rate on this will be 3% for 4 years. What would the interest be that Osvaldo would have to pay?

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2 weeks 2021-09-05T07:13:10+00:00 1 Answers 0 views 0

## Answers ( )

1. 9514 1404 393

$16,800 Step-by-step explanation: The interest is computed using the formula … I = Prt where P is the loan amount, r is the annual rate, and t is the number of years. Filling in your given information, you have … I =$140,000 × 0.03 × 4 = $16,800 Osvaldo would have to pay$16,800 in interest.