If Ms. Wong takes out a loan of 85000 dollars with a simple interest of 5% annually, how much would she have to pay in 2 years if she returns 35000 after the first year? Show your work and your thinking.

asked Oct 26, 2022 16.1k views

22 votes

7.9k points

Please log in or register to add a comment.

1 vote

85,000 + 5% = 89,250 , 85,000- 35,000 = 50,000* 5% = 52,500 so
Answer = 6,760 in interest + the original 85,000 = 91,750

BoCyrill answered Oct 31, 2022

8.4k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.2m questions

11.9m answers