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balu736 [363]
4 years ago
13

Michelle borrowed $3000 at 5% intrest to pay for her college classes. Michelle took 2 years to repay this loan. What is the tota

l amount that she repaid? {I=PRT}
Mathematics
1 answer:
lina2011 [118]4 years ago
4 0
Ok, so you have the initial 3000, and 5% interest charged annually, and 5% is equal to 150. If it takes her two years to repay, that comes to 300 extra, so the total amount she repaid would be $3030.00
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