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Interest Rate: 4% each year Starting Balance: $120,000 Time Passed: 15 years Round all

Interest Rate: 4% each year Starting Balance: $120,000 Time Passed: 15 years Round all

Interest Rate: 4% each year

Starting Balance: $120,000

Time Passed: 15 years

Round all answers to the nearest dollar (no cents, no dollar sign, use commas where appropriate).

1- How much interest has accrued if we are using simple interest?

2- What is the new total balance (loan amount plus interest)?

Abhinav 04-Dec-2019

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