Dr. Seals had to borrow $12000 to pay for college to get her doctorate degree. She agrees to a simple interest rate of 8%. She also agrees to pay the loan back in 2 years. What is the total amount Dr. Seals pays for her doctorate degree?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Dr. Seals had to borrow $12000 to pay for college to get her doctorate degree. She agrees to a simple interest rate of 8%. She also agrees to pay the loan
back in 2 years. What is the total amount Dr. Seals pays for her doctorate degree?
Transcribed Image Text:Dr. Seals had to borrow $12000 to pay for college to get her doctorate degree. She agrees to a simple interest rate of 8%. She also agrees to pay the loan back in 2 years. What is the total amount Dr. Seals pays for her doctorate degree?
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