Candace S.

asked • 11/30/22

loan money with interest

A friend lends you $390, which you agree to repay with 7% interest.


How much will you have to repay?




How much of that was interest?



1 Expert Answer

By:

Phyllis J. answered • 12/26/22

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I will have repaid $417.30. The interest was $27.30.

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Phyllis J.

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If a friend loans you $390.00 you will have to repay your friend $417.30. In order to find this amount, you will multiply $390.00 x 7%. This gives you $27.30 which is the interest. You will then add $27.30 plus $390.00. This gives you the $417.30. This is the amount of the loan including the interest.
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12/26/22

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