To calculate the simple interest, use the formula: ( \text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time} ). Here, the principal is $6000, the interest rate is 7.39% (or 0.0739), and the term is 4 years. Plugging in the values:
[ \text{Interest} = 6000 \times 0.0739 \times 4 = 1773.60. ]
Thus, the simple interest on the loan is $1773.60.
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