A customer borrows $2000 from the bank. The bank charges 5% simple interest for 2 years. The customer agrees to pay back the money and inter

Question

A customer borrows $2000 from the bank. The bank charges 5% simple interest for 2 years. The customer agrees to pay back the money and interest in 24 equal payments. How much does the customer pay back each month?

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Ella 2 weeks 2021-11-18T15:01:33+00:00 1 Answer 0 views 0

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    2021-11-18T15:03:19+00:00

    Answer:

    The costumer pays $87.50 back each month.

    Step-by-step explanation:

    $2,000*5%=

    $2,000*0.05=100

    2,100/24=$87.50

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