Ariane borrows $400 on a 4-year loan. She is charged 5% simple interest per year. How much interest is she charged for 4 years? What is the total amount she has to pay back?

Ariane borrows $400 on a 4-year loan. She is charged 5% simple interest per year. How much interest is she charged for 4 years? What is the total amount she has to pay back?

asked Apr 8, 2018 127k views

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