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If you borrow $700 for 5 years at an annual interest rate of 7%, how much will you pay altogether?
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1 vote
If you borrow $700 for 5 years at an annual interest rate of 7%, how much will you pay altogether?

User MQuiroz
by
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2 Answers

1 vote

Answer:

707 dollars

Explanation:

User Owen Allen
by
6.5k points
4 votes
Answer: $945.00

Explanation: $700 x 0.07 = 49 which is for one year multiple this by 5 which gives you $245.00 then add the $700 loan you borrow which give us $945.00 as our total
User Joby Wilson Mathews
by
5.9k points
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