SOLUTION: Business Loan: The owner of a clothing store borrows $5,020 for 1 year at 15.5% interest. If he pays the loan back at the end of the year, how much does he pay back?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Business Loan: The owner of a clothing store borrows $5,020 for 1 year at 15.5% interest. If he pays the loan back at the end of the year, how much does he pay back?       Log On


   

Question 1024801: Business Loan: The owner of a clothing store borrows $5,020 for 1 year at 15.5% interest. If he pays the loan back at the end of the year, how much does he pay back?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!




John

My calculator said it, I believe it, that settles it