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tino4ka555 [31]

3 years ago

9

Jose borrows $200 for 2 years at a rate of 8% simple interest calculated annually. How much will he have to pay back at the end

of 2 years?

1 answer:

KatRina [158]3 years ago

6 0

Annually= per year

200 at 8% the first year would be
200 • 0.08 = 16 per year
2 years = 32 dollars in interest at the end of 2 years

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