J has a loan of $42,350. This loan has a simple interest rate of 8% per year. What is the amount of interest that will be charged on this loan at the end of two years?

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asked Aug 24, 2021 108k views

4 votes

J has a loan of $42,350. This loan has a simple interest rate of 8% per year. What is the amount

of interest that will be charged on this loan at the end of two years?

Mathematics
high-school

Erlesand asked

by Erlesand

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1 Answer

4 votes

Answer:

6776

Explanation:

8℅ = 0.08

0.08 x 42350 = 3388

3388 x 2 = 6776

Pepero answered Aug 29, 2021

by Pepero

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