Sarah borrows $1600 from a bank with 8% simple interest per year . How much will she have to pay back in 2 years

Question

asked Mar 6, 2024 105k views

1 Answer

Karim · Answer 1 · 2024-03-10T04:04:39+0000

1600*.08 is the yearly interest which is 128. Over two years it will accumulate 256 dollars in interest resulting in a total of 1600+256=1856.
She will need to pay back 1856 dollars in two years.

Sarah borrows $1600 from a bank with 8% simple interest per year . How much will she have to pay back in 2 years

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

Related questions

Categories

Other Questions