Robert gets a loan from his bank he agrees to borrow ? 6000 at a fixed annual simple interest rate of 7% he also agreed to pay the loan back over a 10 year period how much money in total will he have paid back at the end of the 10 years

Step-by-step explanation:

Robert will have paid back $10,200 in 10 years.

Step-by-step explanation:

Since Roberts loan is a simple interest rate and NOT compounded we can calculate the total amount he will have paid at the end of the 10 years with the following formula.

Where P is final Payment , L is initial loan, R is interest rate as a decimal, and Y is the amount of years in which Robert will pay off his loan. Since we have all the information above we can just plug it into the formula.

So Robert will have paid back $10,200 in 10 years.

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b

step-by-step explanation:

i would pic false cause it goes down towards negative

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