Question

Beyonce went to the mall and saw a

massage chair that she would have to take a
loan out for $6500 to purchase. The bank
said that she could get a simple interest rate
of 8% for 5 years. What is the total amount
that Beyonce will pay for the chair?

Answer 1

The answer is $9,100

6,500 x .08 = 520
520 x 5 = 2,600
2,600 + 6,500 = 9,100

Hope this helps!