The sanctuary takes out a $12,500 loan to renovate its gift shop. At 5% simple interest, how much would the sanctuary need to pay back in total after 10 years?

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asked Dec 25, 2022 165k views

5 votes

The sanctuary takes out a $12,500 loan to renovate its gift shop. At 5%

simple interest, how much would the sanctuary need to pay back in total after 10 years?

Mathematics
high-school

Jenish Zinzuvadiya asked

by Jenish Zinzuvadiya

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1 Answer

2 votes

Answer:

20361.18283

Explanation:

p(1+r/100)n

12500(1+5/100)power 10

i hope this answer helps a little bit.

Ikram Shah answered Dec 29, 2022

by Ikram Shah

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