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You borrow $1500 to buy a new laptop. You pay 4.7% interest and repay the loan over two years. What is the total cost of your loan ?

You borrow $1500 to buy a new laptop. You pay 4.7% interest and repay the loan over two years. What is the total cost of your loan ?
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You borrow $1500 to buy a new laptop. You pay 4.7% interest and repay the

loan over two years. What is the total cost of your loan ?

User Logc
by
8.6k points

1 Answer

4 votes

Answer:

Total interest is $74.55

Total payments $1574. 55

Explanation:

User Rodolpho Brock
by
8.6k points
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