Question

Vince borrows $900 to buy a couch. He will pay off the loan by paying 1.5% simple interest for 2 years. Vince incorrectly calculates the amount he will pay back using the expression below. 900 + 900(1.015 • 2) What is the correct amount Vince will pay back altogether? Explain the error in Vince’s expression. A. $903; Vince should have subtracted the first 900 from the amount he will pay. B. $913.50; Vince multiplied by the wrong number of years. C. $927; Vince wrote the wrong number to represent the interest rate. D. $1,813.50; Vince forgot to add the initial $900 to the amount he will pay.

Answer 1

Answer:

3,640.5

Step-by-step explanation:

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