Ryan takes out a student loan for $11,500 at a simple interest rate of 14.1% per year. If he does not make any payments, how much total interest will ryan wow at the end of 2 years?

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asked Nov 10, 2021 232k views

1 vote

Ryan takes out a student loan for $11,500 at a simple interest rate of 14.1% per year. If he does not make any payments, how much total interest will ryan wow at the end of 2 years?

Mathematics
high-school

Sonnyb asked

by Sonnyb

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1 Answer

6 votes

Answer:

3243

Explanation:

14.1 divided by 100 = 0.141

0.141 x 11,500 = 1621.5

1621.5 x 2 = 3243

Sandeep Datta answered Nov 16, 2021

by Sandeep Datta

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