mr albert is taking out a $5,000 loan to pay for graduation school the bank charge mr albert 12% simple interest per year it take mr albert 6 years to pay off the loan

Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P (1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time. Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P (1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time.

A=p (1+rt) = 5000 (1+0.12*6)

=500 (1.72)

=8600