Jeff bought a refrigerator for $1300. He made a 10% down payment and financed the rest at 6% for one year. How much interest did he pay?

1300 x 0.06 x 1 = 78 1300 + 78 = 1378 $1378

Answered by Dannymal | 2024-06-10

I n t eres t = P r in c i p a l ∗ R a t e ∗ T im e
I n t eres t = 1300 ∗ 0.06 ∗ 1
I n t eres t = 78
Jeff paid a total of $1,378.00 with an interest rate of 6% per annum

Answered by Edmund | 2024-06-10

Jeff paid a total interest of $70.20 on his refrigerator loan after financing $1,170 at an interest rate of 6% for one year.
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Answered by Anonymous | 2024-10-02