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Dave borrowed $400 to buy an MP3 player. He got a two-year loan, and the lender is charging 8% simple annual interest. How much money will Dave have to pay back?

Dave borrowed $400 to buy an MP3 player. He got a two-year loan, and the lender is charging 8% simple annual interest. How much money will Dave have to pay back?
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2 votes
Dave borrowed $400 to buy an MP3 player. He got a two-year loan, and the lender is charging 8% simple annual interest. How much money will Dave have to pay back?

asked
User Zamira
by
9.1k points

2 Answers

6 votes

Answer:

Rate: 0.08 hope this helps ya'll

Explanation:

answered
User SABANTO
by
8.3k points
0 votes

Answer:

0.08 Hope this help everyone :D

Explanation:

answered
User Pschulz
by
7.5k points
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