Nick borrowed $6500 to help pay for school at a simple interest rate of 2.2% per year. At the end of five years, determine the

Question

Nick borrowed $6500 to help pay for school at a simple interest rate of 2.2% per year.
At the end of five years, determine the following. Hint: Interest - Principal x Rate x Time
a. How much did Nick pay in simple interest?
b. How much did Nick pay back in all?

Kunduz · Accepted Answer

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