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A bank charges 12% simple interest p.a. on a cash loans for R10 000,must repay the loan over 4 years.

Calculate the interest which is gonna be paid to the loan?

Respuesta :

Answer:

$4800

Step-by-step explanation:

Let's use the simple interest formula, P(1+rt), to find the final amount of the loan

10000(1+.12*4) = 14800, the final amount

14800 - 10000 = 4800 total in interest

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