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Alex takes out a loan for $2000 at a 5% simple interest rate determine how much money he will need to re-pay in total
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Alex takes out a loan for $2000 at a 5% simple interest rate determine how much money he will need to re-pay in total

User Rami Jemli
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That would be $2000 + $2000(0.05)(t), where t is the number of years. Unfortunately you have not provided a value for t.

Total payback would be $2000 + $2000(0.05)(t).
This This is the (simple) interest
is the
principal
User Sdkljhdf Hda
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