3 years ago

Aaron borrowed $500 at 16% annual interest rate for 12 months under an add-on-plan. How much does he have to repay?

Mathematics

2 answers:

beks73 [17]3 years ago

4 0

You just gotta figure out what 16% of 500 is.
500 * .16 = 80
Aaron must repay $80.

Finger [1]3 years ago

3 0

Actually he needs to repay $580 as he still has to repay the initial $500 but now also the $80 he accrued in interest.

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