Question

Beth will borrow 10,000 which earns 4% compound interest and she will repay that amount in 20 years. How much interest was earned on her loan

Answer 1

$11911.23

Explanation:

10000 × (1.04)²⁰

= 21911.23143

Interest = 22911.23143 - 10000

= 11911.23143

Answer 2

Answer: 18,000

Step-by-step explanation: 10,000 borrowed + the 4% earned x the amount paid within 20 years