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Joe borrowed $4,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 4 years?
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Joe borrowed $4,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 4 years?

User Mmarie
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1 Answer

3 votes

Answer:

1,120 dollars interest will be paid by Joe in 4 years

Explanation:

4,000 times 7 ( 0.07 ) is 280, and 280 times 4 is 1,120

User JCollerton
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