Meredith borrows $12,560 and pays 2 percent simple interest each year for four years. What is the total amount of interest that she will pay on the loan.

ANSWERS

2016-09-28 13:28:35

13,564.8 is the answer.If you multiply .02 by 12,560 2,51.2∗4 which would equal 1004.8 dollars for four years add 1004.8+12,560=13,564.8 dollars.

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