Ask Question
5 May, 21:53

John borrowed $150,500 to start up his business. He borrowed the money at a 7.75% simple

interest rate for 2 years. How much does John have to pay back at the end of two years

+3
Answers (1)
  1. 6 May, 00:49
    0
    John have to pay back $23,327.50 at the end of two years

    Step-by-step explanation:

    Simple Interest (I) = (PRT) : 100

    where P = Principal, R = Rate, T = Time

    I = ($150500 * 7.75 * 2) : 100

    I = ($2332750) : 100

    I = $23,327.50
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “John borrowed $150,500 to start up his business. He borrowed the money at a 7.75% simple interest rate for 2 years. How much does John have ...” 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