Mario needs a loan to buy a tractor for his farm. He qualified for a loan at 2 different banks.
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First Bank of Trust
Loan Amount: $25,000
Annual Simple Interest
Rate: 6.5%
Loan Length: 4 years
What is
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Enter your answer in the box.
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Valor Bank
Loan Amount: $25,000
Annual Simple Interest
Rate: 4%
Loan Length: 6 years
total amount Mario will pay, including loan amount and interest, for the First Bank of Trust loan?