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Mr. Vazquez needs money for school so he borrows 10,000 from Ms. Putnam for 4 years at 5% simple interest rate. What is the TOTAL amount he pays back?

Mr. Vazquez needs money for school so he borrows 10,000 from Ms. Putnam for 4 years at 5% simple interest rate. What is the TOTAL amount he pays back?
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1 vote
Mr. Vazquez needs money for school so he borrows 10,000 from Ms. Putnam for 4 years at 5% simple interest rate. What is the TOTAL amount he pays back?

User Andrew Bowman
by
9.1k points

1 Answer

4 votes

10000 x 1.05 = 10500

$10500

User Bsoist
by
8.2k points
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