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You get a loan for $2500 with a simple interst of 16% for 3 years. How much to you have to pay back?

You get a loan for $2500 with a simple interst of 16% for 3 years. How much to you have to pay back?
asked 195k views
13 votes
You get a loan for $2500 with a simple interst of 16% for 3 years. How much to you have to pay back?

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User Kwhitejr
by
8.3k points

1 Answer

8 votes

Answer:

$3,700

Explanation:

16% of 2500=400

400×3(years)=1,200

2500+1200=3700

answered
User Lonre Wang
by
8.6k points
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