Question

​Elsie's aunt borrows​ $400 with an interest rate of​ 1.5%. How much interest will she pay after 4​ years?

Answer 1

Answer: $24 after 4 years

Explanation:

1.5% = 0.015

Take 400 times 0.015 = $6 per year

6 times 4 = $24 after 4 years