richbitttt richbitttt

26-05-2021
Mathematics

contestada

Megan took out a loan for $500. The rate is 8%. how much does Megan owe in interest if she pays it back in 4.5 years

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hiiiuhss hiiiuhss

26-05-2021

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stephaniecarbonell07 stephaniecarbonell07

26-05-2021

Answer:

$180

Step-by-step explanation:

0.08 times 500 equals 40 so each year Megan needs to pay $40 in interest. Then you need to do 40 multiplied by 4.5 to get 180.

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