How much interest was paid to the bank


Problem

A bank issues a loan of $97,000 at 6.5% simple interest for two and a half years. If the loan was paid in full at the end of two and a half years, how much interest was paid to the bank?

Request for Solution File

Ask an Expert for Answer!!
Financial Accounting: How much interest was paid to the bank
Reference No:- TGS03316532

Expected delivery within 24 Hours