$20,000 is borrowed at an interest rate of 15% p.a. (per annum) to be paid back over 10 years, calculate the amount of interest, the total repayment and the monthly repayment.

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asked Dec 3, 2023 2.1k views

10 votes

$20,000 is borrowed at an interest rate of 15% p.a. (per annum) to be paid back over 10

years, calculate the amount of interest, the total repayment and the monthly repayment.

Mathematics
high-school

Leobidoous asked

by Leobidoous

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1 Answer

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Answer:

30000 simple interest ,50000 total repayment.

Explanation:

sorry iam terrible at explaining,

Borichellow answered Dec 7, 2023

by Borichellow

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