buggiebooski2009
contestada

I will give Brainliest!!!

A collenge student takes out a $7500 loan from a bank. Assuming the student has not started paying back the money, how much does the student owe after 2 years, if the bank charges 3.8% interest each year?

Respuesta :

Answer:

$7897.5

Step-by-step explanation:

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WorldTraveler2021

Answer:

$7785.

Step-by-step explanation:

3.8% as a decimal is 0.038. The bank will add $285 onto the price of the loan each year. After 1 year the balance of the loan is $7500 + $285 = $7785.

Hope this helps! ^w^

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