the office manager of first tech support borrowed $25,000 to purchase new computers for employees. the bank…

the office manager of first tech support borrowed $25,000 to purchase new computers for employees. the bank charges 6 percent interest for 4 years. how much interest will the company pay in all?\n$1,200\n$1,500\n$4,800\n$6,000

the office manager of first tech support borrowed $25,000 to purchase new computers for employees. the bank charges 6 percent interest for 4 years. how much interest will the company pay in all?\n$1,200\n$1,500\n$4,800\n$6,000

Answer

Explanation:

Step1: Identify the simple - interest formula

$I = Prt$, where $I$ is interest, $P$ is principal, $r$ is annual interest rate, and $t$ is time in years.

Step2: Convert the percentage to a decimal

$r=6% = 0.06$.

Step3: Substitute values into the formula

$P = 25000$, $r = 0.06$, $t = 4$. Then $I=25000\times0.06\times4$.

Step4: Calculate the interest

$I = 25000\times0.06\times4=6000$.

Answer:

D. $6,000$