Larry borrows $1300 at 5% simple interest per month. When Larry pays the loan back 3 years later, what is the total amount that
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Answer:
Step-by-step explanation:
Hello,
First of all, we know that the solution of the following equation
are
<em>I would suggest that you try to apply this formula first and check the solution only after you try.</em>
Let's apply it in this case, we have:
Hope this helps.
Do not hesitate if you need further explanation.
Thank you