11.) Jim took out a loan for $500. The rate is 8%. How much does Jim owe in interest if he pays it back in 4 years?

Question

11.) Jim took out a loan for $500. The
rate is 8%. How much does Jim owe
in interest if he pays it back in 4
years?

in progress 0
Khoii Minh 4 years 2021-09-03T15:22:38+00:00 2 Answers 33 views 0

Answers ( )

  1. Helga
    0
    2021-09-03T15:24:16+00:00
    Reply

    Step-by-step explanation:

    • Total princple=$500
    • Rate of interest=8%
    • Years=4years
    • S.I=500×4×8/100
    • S.I=$160
    • Amount=$660
  2. ngochoa
    0
    2021-09-03T15:24:25+00:00
    Reply

    Answer:

    Total principle = $500

    Rate of interest = 8%

    Years = 4 years

    S.I = 500×4×8/100

    S.I = $160

    Amount=$660

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