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Ariane borrows $500 on a 5−year loan. She is charged 5% simple interest per year. How much interest is she charged for 5 years? What is the total amount she has to pay back?

Ariane borrows $500 on a 5−year loan. She is charged 5% simple interest per year. How much interest is she charged for 5 years? What is the total amount she has to pay back?
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Ariane borrows $500 on a 5−year loan. She is charged 5% simple interest per year. How much interest is she charged for 5 years? What is the total amount she has to pay back?

User Omercnet
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She is charged 25 dollar interest per year so 125 dollars in 5 years. Then she has to pay back 625 dollars.
User Summer
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