Register
A bank offers a home improvement loan with simple interest at an annual rate of 12%. J.T. borrows an amount of $14,000 to pay back over 3 years. How much will he pay back altogether? Explain how you found
47.3k views
0 votes
A bank offers a home improvement loan with simple interest at an annual rate of 12%. J.T. borrows an amount of $14,000 to pay back over 3 years. How much will he pay back altogether? Explain how you found the total amount.

User Matthew Boynes
by
8.1k points

1 Answer

5 votes

12%*14000*3

Which is 5040

Therefore, it will have to pay back $4050

User Lazy Ninja
by
8.2k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

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
Write words to match the expression. 24- ( 6+3)
The cost of 5 similar digital cameras and 3 similar video cameras is 3213. Each video camera costs 4 times as much as each digital camera. John buys a digital camera and a video camera. How much does he
Link Copied!