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Mr. Rumba borrowed $20,000 from a Finance Company which charged Simple interest of 10.5% P.q. Find the total Sum that Mr, Rumba had to pay at the end of two years.​

Mr. Rumba borrowed $20,000 from a Finance Company which charged Simple interest of 10.5% P.q. Find the total Sum that Mr, Rumba had to pay at the end of two years.​
asked 139k views
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Mr. Rumba borrowed $20,000 from a Finance Company which charged Simple interest of 10.5% P.q. Find the total Sum that Mr, Rumba had to pay at the end of two years.​

asked
User Jeff Butler
by
8.3k points

1 Answer

5 votes

Answer:

$24,200

Explanation:

A = P (1 + rt)

A = 20,000 (1 + 0.105 * 2)

A = 24,200

answered
User Sazzadur Rahaman
by
8.3k points
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