christianhaggard christianhaggard

25-04-2022
Mathematics

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Thang decided to borrow $5000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of 9%. How much interest will Thang pay?

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jnyakiamovictoria jnyakiamovictoria

25-04-2022

Answer:

$1350

Step-by-step explanation:

Simple Interest = Deposit ×Rate/100×Time

SI=5000×9/100×3

=$1350

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