Lacy took out a single payment loan for $610 that charged a $70 fee. How
much does she have to pay by the time the loan reaches maturity?
O A. $680
O B. $610
O c. $70
O D. $540

Respuesta :

Answer:

It will be A

Step-by-step explanation:

All you have to do is add.

610 + 70 = 680.

Therefore your answer will be 680

Hope this helps!

It will be A

All you have to do is add.

610 + 70 = 680.

Therefore answer will be 680.

What is the difference between simple interest and compound interest?

Compound interest is usually expressed as a percentage and can be either compound interest or compound interest. Simple interest is based on the principal of the loan or deposit.

In contrast, compound interest is based on the principal and the interest accrued during each period. Sol: At 10%, the simple interest rate after 3 years is 30%. After 3 years, the compound interest rate of 10% is 1.1 × 1.1 × 1.1 = 1.331  The cumulative interest rate is 33.1%. Here, the difference after 3 years is 3.1%, which is shown as Rs in the question. 930

Learn more about simple interest and compound interest here: https://brainly.com/question/24924853

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