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7 July, 18:13

1) You decide to borrow money at 22% interest per year, how much will you owe on a loan of

$5,000 after one year? What about after three years?

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Answers (2)
  1. 7 July, 18:35
    0
    Answer

    The first year is 6100

    After 3 years it is 9079.24
  2. 7 July, 20:15
    0
    Answer: 1 year = $110 5 years = $550 (i think that's right)

    step-by-step explanation:

    5000 x 0.022 x 1 = $110

    5 years = $110 x 5 = 550
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