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15.3 How to accumulate personal wealth  (Page 6/13)

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  • Card 6 / 13:
    What is the total amount of interest collected from a $5,000 loan after three years with a simple interest rate of 6%?

    Principal + (principal × rate × time)

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Practice FlashCards 8 Key Terms 2

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Source:  OpenStax, University of houston downtown: microeconomics. OpenStax CNX. May 28, 2014 Download for free at http://legacy.cnx.org/content/col11651/1.2
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