Register

Cassandra has a loan of $35,720. This loan has a simple interest rate of 4% per year. What is the amount of interest Cassandra will pay on this loan at the end of two years? $2,…

Cassandra has a loan of $35,720. This loan has a simple interest rate of 4% per year. What is the amount of interest Cassandra will pay on this loan at the end of two years? $2,…
120k views
1 vote
Cassandra has a loan of $35,720. This loan has a simple interest rate of 4% per year.

What is the amount of interest Cassandra will pay on this loan at the end of two years?
$2,857.60
$38,577.60
$1,428.80
$5,715.20

User AndaluZ
by
7.8k points

1 Answer

4 votes
$2857.60 because when yu multiply the loan times the % yu get 1428.80 because it’s the end of 1 year and the question is asking for the end of 2 years so yu have to double it.
User Biswajit Maji
by
8.9k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!