Question

8. To buy a laptop computer, Elaine

borrowed $2,000 for 4 years at an annual simple
interest rate of 5%. What is the total amount that
she will repay? (red)

Answer 1

2400

Explanation:

Interest = Principal * Rate * Time

= 2000 * .05 * 4

= 400

Total amount to pay:

Principal + Interest

2000 + 400 = 2400