18.9k views
21 votes
How much interest will you pay if you borrow $850 for 2 years at 4% interest?

User Sergine
by
5.6k points

2 Answers

1 vote

Answer:

Its $68

Explanation:

just got it right.

User Neel Alex
by
6.0k points
5 votes

Answer:

If you're being charged annually, you would end up paying $918.

Explanation:

850 * 0.04 (or 4%) = 34

34 * 2(years) = 68

850 + 68 = 918

You would end up paying $68 in interest.

User Valentt
by
5.7k points