Alex takes out a loan for $2000 at a 5% simple interest rate determine how much money he will need to re-pay in total

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asked Feb 9, 2019 1.2k views

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Sdkljhdf Hda · Answer 1 · 2019-02-15T10:42:04+0000

That would be $2000 + $2000(0.05)(t), where t is the number of years. Unfortunately you have not provided a value for t.

Total payback would be $2000 + $2000(0.05)(t).
This This is the (simple) interest
is the
principal

Alex takes out a loan for $2000 at a 5% simple interest rate determine how much money he will need to re-pay in total

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