Question

If you borrow $900 for 4 years at an

annual interest rate of 5%, how
much will you pay altogether?

Answer 1

i am going to assume that for interest you mean simple interest.

900*5%*4=180

180+900=1080.

if you mean compound interest...

900*(1+5%)^4=1094.0 (1.d.p)

Answer 2

$995.04

Explanation:

You pay $20.73 every month. $20.73 x 48 = $995.04