Franco borrows $400 and will pay 4% simple interest. write an equation to answer each question. a. what will be the amount of interest if franco pays back the loan in 1 year? b. what will be the amount of interest if he pays back the loan in 2 years? c. if franco pays off the loan in 2 years, what is the total amount he will pay the lender?

17,520

Step-by-step explanation:

4% of 400 = 16.

Now for question A there is 365 days in a year.

365 x 16 = 5840 .

Question B we do 365 + 365 = 730, for two years.

730 x 16 = 11,680.

Question C we will add our answers for the total amount.

11,680 + 5,840 = 17,520.

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step-by-step explanation: