Question

(I’ll brainlist)


Every year the bank charges you 5% interest (money they take as payment for the loan)

1) so the first year they charge you:

2) your total loan for the first year is:

Answer 1

Answer:

Your question is not complete as you have not mentioned the loan amount ,

As By simple intrest formula ,

A = PRT

we didn't know the principal (loan) amount so you have to pay

A = 0.05P