Mrscoronel Mrscoronel

29-01-2016
Mathematics

contestada

You borrow $1,000 on a simple interest loan. You pay an annual rate of 3.5%. You will take 3 years to pay back the loan. How much interest will you pay?

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Idonthaveagoodname Idonthaveagoodname

29-01-2016

3.5% of $1000 is $35 a year so $35 x 3 years is $105 interest you will pay in 3 years

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lilywong49 lilywong49

26-02-2021

Answer:

$105

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I got this right on ttm trust me

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