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Nigel borrows $250 and pays 5.5% simple interest each year. if he pays back the money in one year, what is the total amount that he pay?

Nigel borrows $250 and pays 5.5% simple interest each year. if he pays back the money in one year, what is the total amount that he pay?
asked 43.3k views
3 votes
Nigel borrows $250 and pays 5.5% simple interest each year. if he pays back the money in one year, what is the total amount that he pay?

asked
User Abir Ahsan
by
7.5k points

1 Answer

3 votes
The simple interest is 13.75
answered
User Marktani
by
8.8k points
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