Jonathan’s grandparents lend $20,000 to Jonathan at a simple annual interest rate of 10%. He pays them back 5 years later. How much do they receive? Select:
A) 20,000∗0.1^5  B) 20,000∗1.5  C) 20,000∗0.5  D) 20,000∗1.1^5  E) (20,000∗0.1)^5
if you are like me and have used S.I = P x R x T formula in school, then while the question is asking for Amount in 5 years. so (20,000∗1.5) 20,000∗ 1.5   Ans : 20,000∗1.5
<result>B</result>
Jonathan’s grandparents lend $20,000 to Jonathan at a simple annual interest rate of 10%. He pays them back 5 years later. How much do they receive?