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