lili112722 lili112722

13-06-2017
Mathematics

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Mari took out a student loan for $1,800 at 8.5% simple interest for 2 years. How much was the total amount she paid on the loan

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Aliwohaish12 Aliwohaish12

15-06-2017

Hi there
The formula is
A=p (1+rt)
A future value?
P present value 1800
R interest rate 0.085
T time 2 years

A=1,800×(1+0.085×2)
A=2,106

Hope it helps

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