Question

If Ms. Wong takes out a loan of 85000 dollars with a simple interest of 5% annually, how much would she have to pay in 2 years if she returns 35000 after the first year? Show your work and your thinking.

(PLEASE HELP !!)

Answer 1

85,000 + 5% = 89,250 , 85,000- 35,000 = 50,000* 5% = 52,500 so
Answer = 6,760 in interest + the original 85,000 = 91,750