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rodikova [14]
3 years ago
13

Austin borrowed $700 from a lender that charged simple interest at a rate of 9% for 6

Business
1 answer:
lukranit [14]3 years ago
8 0

Answer:

Initial capital $700

Interest rate     9%

Period       6 years

Interest paid by year: (700x0.09)    =63

Interest paid at the end of the loan: (63x6) = 378

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