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You get a loan for $2500 with a simple interst of 16% for 3 years. How much to you have to pay back?
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13 votes
You get a loan for $2500 with a simple interst of 16% for 3 years. How much to you have to pay back?

User Kwhitejr
by
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1 Answer

8 votes

Answer:

$3,700

Explanation:

16% of 2500=400

400×3(years)=1,200

2500+1200=3700

User Lonre Wang
by
8.0k points
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