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

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

User Taylor Gautier
by
8.9k points

1 Answer

5 votes

Answer:

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

Explanation:

User Lbollar
by
7.2k points
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