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klasskru [66]
3 years ago
12

Find the amount paid for the loan. $2400 at 10.5% for 5 years

Mathematics
1 answer:
KengaRu [80]3 years ago
6 0
Loan amount=$2400. 
has an interest rate of 10.5%.
That's PER year for FIVE years.
First, you need to get how much 10.5% of 2400$ is... which comes out to be 252. 
$732 is the answer. (PER year). 
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