Question

You will get a loan from a bank for $5000. The interest rate will be 8% and the loan will be for 3 years. You will need to calculate the total amount that you would be paying back to the bank.
If you were to get a 10% pay increase, write and solve an equation to show how many hours you would need to work to pay for your trip?

Answer 1

Answer:

5000×8×3/100

1200

1200×10/100

120