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How much interest will you pay on a loan of $2,620, with a 3% interest rate, paid over 5 years?
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4 votes
How much interest will you pay on a loan of $2,620, with a 3% interest rate, paid over 5

years?

User Taelimoh
by
7.4k points

1 Answer

7 votes

Answer:

You'll pay $3013

Explanation:

Amount to pay=$2620+Interest accrued

A=$2620+($2620×0.03×5)

A=$2620+$393

A=$3013

User Haleemur Ali
by
6.9k points
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