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7. Lawrence takes out a loan For S8000 to start a business after high school, The bank charges him 8% interest for the loan. After 8 years how much interest will be added on to the loan?

7. Lawrence takes out a loan For S8000 to start a business after high school, The bank charges him 8% interest for the loan. After 8 years how much interest will be added on to the loan?

Structural Analysis
Structural Analysis
6th Edition
ISBN:9781337630931
Author:KASSIMALI, Aslam.
Publisher:KASSIMALI, Aslam.
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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Question

7. Lawrence takes out a loan For S8000 to start a business after high school, The bank charges
him 8% interest for the loan. After 8 years how much interest will be added on to the loan?

8.  A man borrowed an amount of S10,000 to a bank. The bank agreed considering that the
interest rate is 5% annually. Determine the amount that the man paid the bank if he
borrowed last January 01, 1900. The man paid the bank dated November 30, 1900. Use
exact simple interest. 

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