Register

Joshua borrowed $1000 from his friend and paid him back $1050 in six months. What simple annual interest did Joshua pay his friend?

Joshua borrowed $1000 from his friend and paid him back $1050 in six months. What simple annual interest did Joshua pay his friend?
asked 176k views
1 vote
Joshua borrowed $1000 from his friend and paid him back $1050 in six months. What simple annual interest did Joshua pay his friend?

asked
User Newmoney
by
8.3k points

2 Answers

2 votes

Answer:

Explanation:

1050=1000(1+.5*i)

i= 10%

answered
User Coxx
by
8.9k points
3 votes

Answer:

80 dollars is the correct answer

answered
User Ryan Thomas
by
8.2k points
← Prev Question Next Question →

Related questions

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!