29-08-2021
Mathematics

contestada

(I’ll brainlist)

Every year the bank charges you 5% interest (money they take as payment for the loan)

1) so the first year they charge you:

2) your total loan for the first year is:

Respuesta :

Аноним Аноним

29-08-2021

Answer:

Your question is not complete as you have not mentioned the loan amount ,

As By simple intrest formula ,

A = PRT

we didn't know the principal (loan) amount so you have to pay

A = 0.05P

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