Question

HELP! Please!! Juan borrowed 12,00 from his friend eduardo and made an agreement to play him back over 2 years at an annual simple interest of 4% what is the total amount he will pay his friend back over the 2 years

Answer 1

if the initial amount is 1200 then the answer is 1296

if the initial amount is 12000 then the answer is 12960

the initial number was unclear with the placement of the comma

Explanation:

Answer 2

$12,960.00

Explanation:

Use the formula A = P (1+rt)

A = (12000)(1+(0.04x2))

A = $12,960.00