Register

Ravi borrows $950 from his parents with a simple interest rate of %5. If it takes him 2 years to pay back the money, how much interest will he owe?

Ravi borrows $950 from his parents with a simple interest rate of %5. If it takes him 2 years to pay back the money, how much interest will he owe?
asked 58.1k views
0 votes
Ravi borrows $950 from his parents with a simple interest rate of %5. If it takes him 2 years to pay back the money, how much interest will he owe?

asked
User Gwell
by
8.4k points

1 Answer

6 votes

Answer:

he will owe $1,047 in total and $97.37 in interest

answered
User Jermal
by
9.0k points
← Prev Question Next Question →

Related questions

User LueTm
asked Sep 16, 2020 118k views
Determine the total amount Victor must repay if he borrows 8000 at %5 simple interest for 3 or.
LueTm asked Sep 16, 2020
by LueTm
8.2k points
1 answer
3 votes
118k views
Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!