Answer:
You will pay an interest of 6000$ over the coarse of your loan.
Step-by-step explanation:
Principle = 12,500
Interest = 8%
Time = 6 years
Simple interest = [tex]\frac{Principle * Rate * Time}{100}[/tex]
Simple interest = [tex]\frac{12500*8*6}{100}[/tex]
SI= 6000$
You will pay an interest of 6000$ over the coarse of your loan.
Hope this helps.
