Jason borrows $8,000 to help pay for college. If the loan has an annual interest rate of 5.5%, how much interest would he owe at the end of two years, if he does not make any payments?

the interest that would he owe at the end of the two years is $880

Step-by-step explanation:

The computation of the interest that would be owe at the end of two years is shown below

here we applied the simple interest formula

= Principal × rate of interest × time period

= $8,000 × 5.5% × 2

= $880

Hence, the interest that would he owe at the end of the two years is $880

the terms of a geometric sequence can be found by beginning with the first term and multiplying by the common ratio repeatedly. a recursive formula for a geometric sequence with common ratio r is given by an=ran−1 a n = r a n − 1 for n≥2 n ≥ 2 .

step-by-step explanation: