Ask Question
8 June, 05:48

Jay borrowed $15,000 for one year from a bank in order to buy a Ducatti motorcycle. He agreeded to pay an interest rate of 8% per year. At the end of one year, how much money would Jay pay back to the bank

+3
Answers (2)
  1. 8 June, 06:19
    0
    Hey there!

    Find the interest rate by multiplying 15000 by. 08 (8%) and you would get 1200. So 1200 is the interest rate. Add 1200 to 15000 and you would get 16,200

    So he would have to pay back $16,200 =.
  2. 8 June, 06:58
    0
    He would pay $1,200.

    Multiply 15,000 * 0.08 = 1,200

    And since its 1 year you can multiply it by 1 but its the same.

    So the answer is $1,200
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Jay borrowed $15,000 for one year from a bank in order to buy a Ducatti motorcycle. He agreeded to pay an interest rate of 8% per year. At ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers