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For a loan of $40,000 at 12% for 10 years, how much do you wind up paying back? 80,000 48,000 88,000 8,000

For a loan of $40,000 at 12% for 10 years, how much do you wind up paying back? 80,000 48,000 88,000 8,000
asked 209k views
11 votes
For a loan of $40,000 at 12% for 10 years, how much do you wind up paying back?

80,000
48,000
88,000
8,000

asked
User Sanny Srivastava
by
8.5k points

1 Answer

4 votes

Answer:

$88,000

Explanation:

40,000*.12= 4,800

4,800*10= 48,000

40,000+48,000= 88,000

answered
User Rahul R Dhobi
by
9.0k points
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