A college student takes out a $7500 loan from a bank. Assuming the student has not started paying back the money, how much does the student owe after 1 year, if the bank charges 3.8% interest each year? after 1 year, if the bank charges 7.6% interest each year? after 2 years, if the bank charges 3.8% interest each year?

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01-03-2022
Mathematics

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A college student takes out a $7500 loan from a bank. Assuming the student has not started paying back the money, how much does the student owe after 1 year, if the bank charges 3.8% interest each year? after 1 year, if the bank charges 7.6% interest each year? after 2 years, if the bank charges 3.8% interest each year?

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