You want to borrow money to open your own frozen yogurt shop you borrow $13,000 and agreed to take over 4 years at a simple interest rate of 15%

Part A:How much simple interest will you pay after the 4 years?

Part B:How much will you end up paying back in total after the 4 years?

Question

Kimberly Leonard

Mathematics

10 December, 23:40

You want to borrow money to open your own frozen yogurt shop you borrow $13,000 and agreed to take over 4 years at a simple interest rate of 15%

Part A:How much simple interest will you pay after the 4 years?

Part B:How much will you end up paying back in total after the 4 years?

+3

Answers (2)

Know the Answer?

Raul Carter · Answer 1

Part A: 1950

Part B: 14000

I am probably not right

I don't know what interest is

Gabriella Mckinney · Answer 2

I = Prt

... = 13,000*.15*4

... = 7800

A) You will pay $7,800 in interest after 4 years.

B) You pay back the principal plus the interest.

... $13,000 + 7,800 = $20,800

You want to borrow money to open your own frozen yogurt shop you borrow $13,000 and agreed to take over 4 years at a simple interest rate of 15%Part A:How much simple interest will you pay after the 4 years?Part B:How much will you end up paying back in total after the 4 years?

You want to borrow money to open your own frozen yogurt shop you borrow $13,000 and agreed to take over 4 years at a simple interest rate of 15%

Part A:How much simple interest will you pay after the 4 years?

Part B:How much will you end up paying back in total after the 4 years?