Question

Acelynn borrows $1337 to buy a four wheeler. The interest rate is 4% for the 14 year loan. Q: A: How much interest will she pay back for the money borrowed?

A) $53.48 B) $748.72 C) $534.80 D) $2085.72

Answer 1

1337 x 0.04 ( 4% ) = $53.48

$ 53.48 x 14 ( years ) = $748.72