Question

Wade borrowed $12,500 from his uncle at 4.5% simple interest to use for travel and repaid the loan in 4 years. How much did he pay back?

Answer 1

12,500 / 100 = 125    125 x 4.5 = 562.5      562.5 x 4 = 2250
2250 + 12,500 = 14,750       He paid back a total of $14,750. Hope this helps :)