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bagirrra123 [75]

3 years ago

15

Mia borrowed 5,000 from her grandparents to pay college expenses. She pays them $125 each month, and simple interest at an annua

l rate of 5% on the remaining balance of the loan at the end of each year. For how many years will she pay interest?

1 answer:

Bad White [126]3 years ago

8 0

25×12=300 for the year
5000-300=4700

5%×4700=235
235÷25=9.4

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