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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
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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 the decimal).

User 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

User Karsas
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