Question

Bath and $38,000 in student loans the interest rate on her salons is 8.25% per year she will be painless loans off for 20 years how much will Best pay altogether

Answer 1

$100,700

Explanation:

Given data

Principal= $38,000

rate= 8.25%

Time= 20 years

Applying the simple interest

A=P(1+rt)

substitute

A=38000(1+0.0825*20)

A=38000(1+1.65)

A=38000*(2.65)

A=$100,700

Hence in 20 years she will pay $100,700