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1.
Mark wants to borrow $5,800 for 3 years at an interest rate of 8.25% per year. How
much interest will Mark pay over the three years?
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Respuesta :

THE PRINCIPAL IS $5,800
THE RATE IS 8.25%
THE TIME IS 3 YEARS

SIMPLE INTEREST = PRINCIPAL × RATE × TIME

= $5,800 × 3 × 8.25%

= $143,550

THEREFORE MARK PAID $143,550 OVER THE THREE YEARS.

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