Question

$3500 at 10% for 2 years

Answer 1

The amount paid is $11,900.

First, you multiply $3,500 and 0.1 (10%). This gives you $350, which you multiply by 24 (24 months or 2 years), giving you $8,400. Finally, you add $8,400 and $3,500 to get your final answer.

I hope this helps!