Question

If you borrow $4,000 for five years at an interest rate of 4.5%, how much will you pay back in total?If you borrow $4,000 for five years at an interest rate of 4.5%, how much will you pay back in total?

Answer 1

you will pay back $4,984 in total and you will owe 984 in interest alone just in case you need that too.