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Eric took out $85,0000 in student loans with a simple interest of 7.5%. He takes the full 10 years to repay the loan. How much will he pay back when the loan is paid in full? Ex…

Eric took out $85,0000 in student loans with a simple interest of 7.5%. He takes the full 10 years to repay the loan. How much will he pay back when the loan is paid in full? Ex…
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Eric took out $85,0000 in student loans with a simple interest of 7.5%. He takes the full 10 years to repay the loan. How much will he pay back when the loan is paid in full? Explain how you solved the problem and justify your answer.

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User Deniz Cetinalp
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8.7k points

1 Answer

5 votes
Multiply (850000)(7.5)(10) and that would show how much he would pay
answered
User Ness
by
8.5k points
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