Question

Travis takes out a loan from his bank for $3,500. At the end of the year, Travis will need to pay the loan back to his bank along with a 8.2% interest fee on the money. Determine how much money Travis will need to pay the bank back after one year.

Answer 1

$3,787

Explanation:

frist find the amount of intrest

3,500 X 0.082 X 1 = 287

next add the oragial amount to the amount of intrest

3,500 + 287 = 3,787