Question

Meredith borrows $12,560 and pays 2 percent simple interest each year for 4 years. What is the total amount of interest that she will pay on the loan?
$251.20
$1,004.80
$11,555.20
$13,564.80

Answer 1

Answer:

Step-by-step explanation:

Here you go mate

Step 1

Meredith borrows $12,560 and pays 2 percent simple interest each year for 4 years. What is the total amount of interest that she will pay on the loan?

Question

Step 2

Let's solve for the total amount she paid including the interest

12 560*02 = 251.2 for a year

251.2*4 =1004.8  4 yrs

Step 3

1004.8+12 560  Add them

13 564.80

Answer

∴So there fore her interest will be 13 564.80

Hope this helps

Answer 2

Answer:

guy above is correct i confermed

Step-by-step explanation: