What is the total paid back on a loan of $1,500 with an interest rate of 3.74% for 2 years?

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Gerbz asked Feb 12, 2022

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What is the total paid back on a loan of $1,500 with an interest rate of 3.74% for 2 years?

Mathematics
middle-school

Gerbz asked Feb 12, 2022

by Gerbz

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5 votes

Answer:

1,500 x 1.0374^2 = 1614.29814

=$1613.30

Explanation:

Limmen answered Feb 15, 2022

by Limmen

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20 votes

Answer:

1612.2

Explanation:

3.74% × 2 = 7.48%

1500 + 7.48% = 1612.2

Mjjaniec answered Feb 18, 2022

by Mjjaniec

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