Ask Question
30 November, 06:15

Alex takes out a loan for $2000 at a 5% simple interest rate determine how much money he will need to re-pay in total

+1
Answers (1)
  1. 30 November, 08:04
    0
    That would be $2000 + $2000 (0.05) (t), where t is the number of years. Unfortunately you have not provided a value for t.

    Total payback would be $2000 + $2000 (0.05) (t).

    This This is the (simple) interest

    is the

    principal
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Alex takes out a loan for $2000 at a 5% simple interest rate determine how much money he will need to re-pay in total ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers