Jane gets a simple interest loan for $2500. If the bank charges 3% interest rate how much will her balance be after 5 years?

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asked Dec 19, 2017 233k views

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Jean Jimenez · Answer 1 · 2017-12-26T05:46:11+0000

2500 divided by 100 is 25. If you multiply 25 times 3 you'll get 75. Repeat those steps (answers will be different each time) five times. You will get the answer.

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Answer: 2577.31958575

Jane gets a simple interest loan for $2500. If the bank charges 3% interest rate how much will her balance be after 5 years?

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