Question

You borrowed $600 to purchase a new musical instrument. The rate on the loan was 10%. If you took five years to pay, how much did you have to pay for the loan in total?

Answer 1

If you took five years to pay, how much did you have to pay for the loan in total?

($600 x 10%/year) x 5 years = $300

The loab in total : $600 + $300 = $900

Explanation: