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If Mark wants to pay off a loan in 5 years and the bank charges 10 percent interest, how much would Mark pay for the entire loan?​
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22 votes
If Mark wants to pay off a loan in 5 years and the bank charges 10 percent interest, how much would Mark pay for the entire loan?​

User Sanjivr
by
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1 Answer

10 votes
Assuming the loan is 100 dollars
100 x .10 = 10
100 + 10 = 110

So he would pay 110 dollars

If the loan is 4560
4560 x .10 = 456
4560 + 456 = 5016
User Subrata Mondal
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