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Sally is seeking a loan with a simple interest rate of 8% per year. If she wants to borrow $5,000, then how much will she be charged in interest for 2 years.

Sally is seeking a loan with a simple interest rate of 8% per year. If she wants to borrow $5,000, then how much will she be charged in interest for 2 years.
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17 votes
Sally is seeking a loan with a simple interest rate of 8% per year. If she wants to

borrow $5,000, then how much will she be charged in interest for 2 years.

User Kelm
by
7.6k points

1 Answer

9 votes
The correct answer is 800
User Nickil Maveli
by
8.4k points
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