How much interest will you pay on a loan of $2,620, with a 3% interest rate, paid over 5 years?

asked Dec 9, 2021 45.1k views

4 votes

How much interest will you pay on a loan of $2,620, with a 3% interest rate, paid over 5

years?

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7 votes

Answer:

You'll pay $3013

Explanation:

Amount to pay=$2620+Interest accrued

A=$2620+($2620×0.03×5)

A=$2620+$393

A=$3013

Haleemur Ali answered Dec 12, 2021

4.7k points

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