miracleann082008 miracleann082008

13-02-2021
Mathematics

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Joe borrowed 2,000 dollars from the bank at a rate of 7% simple interest per year.How much interest did he pay in 5 years

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frogman2300frog frogman2300frog

13-02-2021

Answer:

$700

Step-by-step explanation:

First you find what 7% of $2000 is,

(2000/100)7=140

$140 per year interest, over the course of five years that would be $700

140)5

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