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23 August, 19:43

A bank offers an annual simple interest rate of 8% on home improvement loans. How much would Tobias owe of he borrowed $17,000 over a period of 2 years?

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  1. 23 August, 20:12
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    Find interest and add that to 1700

    I=PRT

    T=2

    P=17000

    R=8%=0.08

    I=2 (1700) (0.08)

    I=272

    add

    17000+272=17272

    total is $17272
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