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3 years ago

11

Thang decided to borrow $2000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of

7%

1 answer:

Svetach [21]3 years ago

4 0

Answer:

Thang will pay $300 as interest

Step-by-step explanation:

T = 3 years

P = $2000

R = 5%

Therefore

I = (2000 × 5 × 3)/100

I = 30000/100

I = $300

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