Question

1) You decide to borrow money at 22% interest per year, how much will you owe on a loan of

$5,000 after one year? What about after three years?

Answer 1

Answer: 1 year = $110 5 years = $550 ( i think that's right)

step-by-step explanation:

5000 x 0.022 x 1 = $110

5 years = $110 x 5 = 550

Answer 2

The first year is 6100

After 3 years it is 9079.24

Explanation: