Ask Question
5 July, 15:46

Ariane borrows $600 on a 2-year loan. She is charged 5% simple interest per year. How much interest is she charged for 2 years? What is the total amount she has to pay back?

+1
Answers (1)
  1. 5 July, 16:16
    0
    Find out what 5% of $600 is by multiplying them by each other after changing the percent from a percentage form into a decimal.

    600*.05=$30

    Now add that to $600 every year.

    $600+$30=630.

    Now add it again since it's for two years.

    $630+$30 = $660.

    Answer:$660.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Ariane borrows $600 on a 2-year loan. She is charged 5% simple interest per year. How much interest is she charged for 2 years? What is the ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers