Johanna owes $2,400 to a bank. The debt grows with simple interest at a rate of 5% per year. How much will Johanna owe in two years? Thank you to whoever helps me❤️

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asked Nov 25, 2022 49.6k views

12 votes

Johanna owes $2,400 to a bank. The debt grows with simple interest at a rate of 5% per year. How much will Johanna owe in two years?

Thank you to whoever helps me❤️

Mathematics
high-school

Patforna asked

by Patforna

8.1k points

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1 Answer

9 votes

Answer:

$2,640

Explanation:

5% × $2,400 = 120

120 × 2 = $240

$2,400 + $240 = $2,640

Ken Krueger answered Nov 30, 2022

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