Find the amount paid for the loan.

$1500 at 9% for 2 years

$___

$1770

To find the amount paid for the loan, you need to calculate the total interest and add it to the principal.

Step 1: Calculate the interest

Interest = Principal x Rate x Time

Principal = $1500
Rate = 9% (0.09 as decimal representation)
Time = 2 years

Interest = $1500 x 0.09 x 2
Interest = $270

Step 2: Add the interest to the principal

Amount Paid = Principal + Interest
Amount Paid = $1500 + $270
Amount Paid = $1770

Therefore, the amount paid for the loan is $1770.

To find the amount paid for the loan, we need to calculate the total interest paid and add it to the principal amount.

First, we calculate the interest paid. The formula to calculate simple interest is:

Interest = Principal x Rate x Time

In this case, the principal amount is $1500, the interest rate is 9% (which can be written as 0.09), and the time period is 2 years. Plugging these values into the formula, we get:

Interest = $1500 x 0.09 x 2 = $270

The interest paid is $270.

To find the total amount paid for the loan, we need to add the interest to the principal:

Total amount paid = Principal + Interest = $1500 + $270 = $1770

Therefore, the amount paid for the loan is $1770.

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