Answer:
$5,460
Step-by-step explanation:
Given that :
Loan taken = principal (p) = $10,000
Simple Interest rate (r) = 9.1% = 0.091
Interest owed at the end of 6 years = t
Simple interest = (principal * rate * time)
Interest owed = 10,000 * 0.091 * 6
Interest owed = 910 * 6
Interest owed = $5,460
