Use the simple interest formula I =prt to solve the following problem. Ricky deposits $425.00 in a bank account that earns interest at a rate of 4% per year.
The balance in his account after five years would be ?

Ricky takes out a $31,800 student loan to pay his expenses while he is in college. after graduation, he will begin making payments of $190.66 per month for the next 30 years to pay off the loan. how much more will ricky end up paying for the loan than the original value of $31,800? ricky will end up paying $ more than he borrowed to pay off the loan.