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A bank offers an annual simple interest rate of 8% on home improvement loans. How much would tobias owe if he borrowed $17,000 over a period of 2 years?

A bank offers an annual simple interest rate of 8% on home improvement loans. How much would tobias owe if he borrowed $17,000 over a period of 2 years?
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1 vote
A bank offers an annual simple interest rate of 8% on home improvement loans. How much would tobias owe if he borrowed $17,000 over a period of 2 years?

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User Rico Suter
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8.3k points

1 Answer

3 votes
Tobias would owe $2720.
answered
User Gontrollez
by
7.8k points
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