Question

Pat borrowed $2000 to help pay college expenses. The interest rate was 5% annually, and she will repay the loan in 4 years. How much total interest will she pay during the 4 years?

Answer 1

the amount of interest she pays is 400 dollars

Explanation:

Since 5 percent of 2000 is 100

I multiplied 100 by 4 because she waits 4 year to pay it off

which equals 400

(this is extra in case I misunderstood the question lol)

I added 400 to the initial cost of 2000

which is 2400

Answer 2

Explanation:

5% multipyed by 4 years is 20%

20% of 2000 is 400