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o-na [289]
3 years ago
10

What is the simple interest of a loan for $1,000 with 5 percent interest after 3 years?

History
1 answer:
Lostsunrise [7]3 years ago
5 0

Answer: 150

Explanation: simple interest produces interest only over the initial amount, so every year the interest will be

1000 * 5/100= 50

So after three years (50x3) it would be 150

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