Suppose you loan $320 to a friend and charge them 11% annual interest. If they don't pay you back, how much will they owe you after five years? Round your answer to the nearest hundredth (2 places after

asked Sep 8, 2023 124k views

1 vote

by Veta

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After five years it will be loan plus interest over five years.

$320+\text{ 5}\cdot(0.11\cdot320)=496$

Karsas answered Sep 14, 2023

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