Ask Question
28 June, 18:41

Aaron borrowed $500 at 16% annual interest rate for 12 months under an add-on-plan. How much does he have to repay?

+3
Answers (2)
  1. 28 June, 19:16
    0
    You just gotta figure out what 16% of 500 is.

    500 *.16 = 80

    Aaron must repay $80.
  2. 28 June, 20:39
    0
    Actually he needs to repay $580 as he still has to repay the initial $500 but now also the $80 he accrued in interest.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Aaron borrowed $500 at 16% annual interest rate for 12 months under an add-on-plan. How much does he have to repay? ...” 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