If You borrow $$1000$ for $4$ years from a bank that charges $5\%$ annual simple interest.how much interest will you owe at the end of the four years? How much $($in total: interest$+$ principal$)$ will you pay to the bank at the end of the four years?

Answer rating: 100% (QA)

Sure lets break it down First we need to understand how simple interest works The formula for simpl... View the full answer