Question

Angie borrowed $1,485 from the bank to purchase a new laptop for the veterinarian’s assistant. The interest on the loan was 7.75% for 2 years. How much will Angie have to pay back at the end of 2 years?

Answer 1

Principle= $1485

Time= 2 years

Interest= 7.75%

Therefore, the amount she has to pay at the end of 2 years will be= principle+ interest% times 2

=1485+ 7.75 times 2

=1485+ 15.5

=$1500.5

Answer 2

Answer: $1,600.09 I think

Step-by-step explanation: (1,465 x .0775) + 1,485