Question

Laura borrowed $44,000 at 13% for 2 years. what was the total interest?

Answer 1

$12,183.60

Explanation:

(I am assuming this is monthly interest and not continuous interest)

$44,000(1.13)² = $44,000(1.2769) = $56,183.60 - $44,000 = $12,183.60

Answer 2

13% of 44,000

Do the math then you’ll get the answer :)