If you borrow $500 at 5% for two years, how much will you pay back by the end of the term?

asked Jun 21, 2021 161k views

2 votes

If
you borrow $500 at 5% for two years, how much will you pay back by the end of the term?

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5 votes

Answer:

Your estimated monthly payments are $22 and you will pay $26 in interest over the life of the loan.

Explanation:

Lbollar answered Jun 26, 2021

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