Question

if you borrow $700 for 5 years at an annual interest rate of 7%, how much will you pay altogether?

Answer 1

Answer:

707 dollars

Step-by-step explanation:

Answer 2

Answer: $945.00

Explanation: $700 x 0.07 = 49 which is for one year multiple this by 5 which gives you $245.00 then add the $700 loan you borrow which give us $945.00 as our total