If Tim borrowed $1,240 for 8 years on a 8% interest rate, how much interest will Tim have to pay total?

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asked Jan 3, 2022 180k views

1 Answer

Danche · Answer 1 · 2022-01-08T23:10:08+0000

Well,
$1240•0.08= $99.20
Then to multiply the 8 years in
$99.20•8= $793.60

So if it is asking for how much interest will have to be paid after a total of 8 years, there is your answer

If Tim borrowed $1,240 for 8 years on a 8% interest rate, how much interest will Tim have to pay total?

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