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Ravi borrows $950 from his parents with a simple interest rate of %5. If it takes him 2 years to pay back the money, how much interest will he owe?

Ravi borrows $950 from his parents with a simple interest rate of %5. If it takes him 2 years to pay back the money, how much interest will he owe?
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Ravi borrows $950 from his parents with a simple interest rate of %5. If it takes him 2 years to pay back the money, how much interest will he owe?

User Gwell
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6 votes

Answer:

he will owe $1,047 in total and $97.37 in interest

User Jermal
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