$1920
1) Since Henry took out a
4 year
5,000
paid 4.2% simple interest
2) We can calculate the interest through this formula:
[tex]\begin{gathered} A=P(1+rt) \\ A_H=5000(1+0.042\times4) \\ A_H=5840 \\ \end{gathered}[/tex]Subtracting 5000 from 5840, Henry will have to pay: $840
2.2) Ingrid
[tex]\begin{gathered} I=5000\times0.039\times6 \\ I=1080 \end{gathered}[/tex]Adding it all up we have for Ingrid and Henry:
$1080 +$840=$1920
3) Hence the accumulated interest that Henry and Ingrid had to pay is $1920
