Question

A.Pet owners may have to take out a loan when their animal has a major operation. Buddy needs to have a surgery on his leg. The cost of the surgery is
$2500. His owner will get a loan for this amount over 2 years at a rate of 7.5%. How much will th entrust be on this loan ?



b. What is the total cost of the surgery including the loan and the interest. ( Show work for A and B )

Answer 1

$2,500 • 7.5% (or 0.075) = $187.50 (for one year).

For two years, the interested added onto the original price is $375 because $187.50 • 2 (years) = $375.

$2,500 + $375 = $2,875

The total of the cost of the surgery and the interest is $2,875.

Hope this helps! ❤️