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Meredith borrows $12,560 and pays 2 percent simple interest each year for 4 years. What is the total amount of interest that she will pay on the loan?
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4 votes
Meredith borrows $12,560 and pays 2 percent simple interest each year for 4 years. What is the total amount of interest that she will pay on the loan?

User Charna
by
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2 Answers

4 votes
The answer is $13,595.34
User Harisu
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8.9k points
0 votes
13,564.8 is the answer
User Hoyhoy
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7.9k points
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