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2 years ago

15

You borrow $500 from your parents to buy a new computer your parents charge you 3% simple interest and give you two years to rep

ay the money. A)how much interest do you pay on the loan. B)what is a total amount of money you owe your parents
Help please!!

1 answer:

miv72 [106K]2 years ago

5 0

A) I = (500)(0.03)(2) = $30
b) 500 + 30 = $530

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