3 years ago

Joe borrowed 2000$ from a bank at a rate of 7% simple interest per year how much interest did he pay in 5 years?

1 answer:

4 0

1) $700; 2000 x 7% x 5 = $700 interest.

2) $715; $550 x 3% x 10 + 550 = $715 total.

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