Ariane borrows $500 on a 5−year loan. She is charged 5% simple interest per year. How much interest is she charged for 5 years? What is the total amount she has to pay back?

Ariane borrows $500 on a 5−year loan. She is charged 5% simple interest per year. How much interest is she charged for 5 years? What is the total amount she has to pay back?

asked Feb 25, 2021 14.2k views

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