How To Find The Total Amount Paid In An Interest Rate Equation
P = principal amount borrowed. i = the interest rate. N = the term of the loan, in years. F = the total amount paid at the end of the designated number of years. F = P(1 + i)^N P would be $4,000. i would be 10%. N would be 4 years. F would be what you are trying to find. F = 4000(1 + 10%)^4. Note that to make things easier, you can convert the interest percentage to decimals so the equation would be F = 4000(1 + 0....