Pat borrowed $2000 to help pay college expenses. The interest rate was 5% annually, and she will repay the loan in 4 years. How
much total interest will she pay during the 4 years?
2 answers:
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>
Step-by-step explanation:
5% multipyed by 4 years is 20%
20% of 2000 is 400
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