Question

On a loan of $4,500 for 2 1/2 years at 4% per year, how much do you wind up paying to pay off the loan?

$4,545
$5,150
$4,050
$4,950

Answer 1

$4,050

put it into calculator

Answer 2

4,950

Explanation:

4% of 4,500=180

180*2=360

180 divided by 2=90

360+90=450

4,500+450=4,950