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3 years ago

10

You borrow $1,000 on a simple interest loan. You pay an annual rate of 3.5%. You will take 3 years to pay back the loan. How muc

h interest will you pay?

1 answer:

Oliga [24]3 years ago

8 0

3.5% of $1000 is $35 a year so $35 x 3 years is $105 interest you will pay in 3 years

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