document.write( "Question 176849: I took out a lease on $2000.00 worth of equipment for tow years. I am being charged5.25% interest annually. What is the interest paid and total amount I paid on the lease. \n" ); document.write( "

Algebra.Com's Answer #132295 by gonzo(654) $\"\"$ $\"About$

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if you made no payments until the end of the two years and if the interest was compounded annually, you would have paid a total of:
\n" ); document.write( "2000*(1.0525)^2 = 2215.5125
\n" ); document.write( "the interest would have been:
\n" ); document.write( "2215.5125 - 2000 = 215.5125
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