Pat borrowed $2000 to help pay college expenses. The interest rate was 5% annually, and she will repay the loan in 4 years. How

Question

3 years ago

8

much total interest will she pay during the 4 years?

2 answers:

Stella [2.4K] · Answer 1 · 2022-01-14T10:58:26+03:00

Answer:

the amount of interest she pays is 400 dollars

Step-by-step explanation:

Since 5 percent of 2000 is 100

I multiplied 100 by 4 because she waits 4 year to pay it off

which equals 400

(this is extra in case I misunderstood the question lol)

<em>I added 400 to the initial cost of 2000 </em>

<em>which is 2400</em>

valentina_108 [34] · Answer 2 · 2022-01-14T09:49:41+03:00

6 0

Step-by-step explanation:

5% multipyed by 4 years is 20%

20% of 2000 is 400