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Meredith borrows $12,560 and pays 2 percent simple interest each year for 4 years. What is the total amount of interest that she will pay on the loan?

Meredith borrows $12,560 and pays 2 percent simple interest each year for 4 years. What is the total amount of interest that she will pay on the loan?
asked 64.6k views
4 votes
Meredith borrows $12,560 and pays 2 percent simple interest each year for 4 years. What is the total amount of interest that she will pay on the loan?

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User Charna
by
7.0k points

2 Answers

4 votes
The answer is $13,595.34
answered
User Harisu
by
8.9k points
0 votes
13,564.8 is the answer
answered
User Hoyhoy
by
7.9k points
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