You borrowed $850 to purchase a new table. the rate on the loan was 5%. how much interest was earned at the end of 5 years? how much did you have to pay for the loan in total at the end of five years?

$1062.5 is the total amount have to be paid at the end of five years.

Step-by-step explanation:

Borrowed amount is $850

Rate of loan is 5%

For 5 years

We know that,

So for 5 years you would earn a total of

5 years you would earn a total is 212.5 interest

You would receive back the $850 you original paid

Leaving you with a total of = $850 + $212.5 = $1062.5

The total amount you have to pay loan in total five years was $1062.5.

13cm

step-by-step explanation:

(apex)