I borrowed $400 to buy an MP3 player. I got a two-year loan, and the lender is charging 8% simple annual interest. How much money will I have to pay back? What decimal is equivalent to 8%?

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asked Aug 3, 2022 230k views

1 vote

I borrowed $400 to buy an MP3 player. I got a two-year loan, and the lender is charging 8% simple annual interest. How much money will I have to pay back?

What decimal is equivalent to 8%?

Mathematics
high-school

Ramesh R asked

by Ramesh R

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2 Answers

6 votes

Answer:

The Answer is 0.08 Just did the Question

Explanation:

Jbkunst answered Aug 4, 2022

by Jbkunst

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7 votes

Answer:

$464 (0.08 is the decimal form of 8%)

Explanation:

I borrowed $400 to buy an MP3 player. I got a two-year loan, and the lender is charging-example-1

Ben Vitale answered Aug 8, 2022

by Ben Vitale

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