Tom borrowed $2,000 at an 11.5% simple interest rate for 5 years. What is the total amount Tom will pay back at the end of 5 years?
A $1,150
B $2,050
C 2,230
D. 3,150
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Home » Mathematics » Tom borrowed $2,000 at an 11.5% simple interest rate for 5 years. What is the total amount Tom will pay back at the end of 5 years? A $1,150 B $2,050 C 2,230 D. 3,150