Bath and $38,000 in student loans the interest rate on her salons is 8.25% per year she will be painless loans off for 20 years
how much will Best pay altogether
1 answer:
Answer:
$100,700
Step-by-step explanation:
Given data
Principal= $38,000
rate= 8.25%
Time= 20 years
Applying the simple interest
A=P(1+rt)
substitute
A=38000(1+0.0825*20)
A=38000(1+1.65)
A=38000*(2.65)
A=$100,700
Hence in 20 years she will pay $100,700
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