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Bob borrowed $70 at 3.75% interest annually for 5 years. How much money will Bob have to pay?
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Nov 15, 2023
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Bob borrowed $70 at 3.75% interest annually for 5 years. How much money will Bob have to pay?
Mathematics
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Kevin Gosse
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Answer:84.14698639
Explanation:
70*(1.0375)^5
=84.14698639
Hlorand
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Nov 17, 2023
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Hlorand
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r = R/100 = 3.875%/100 = 0.03875 per year. The total amount accrued, principal plus interest, from simple interest on a principal of $10,000.00 at a rate of 3.875% per year for 5 years is $11,937.50.
Barg
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Nov 19, 2023
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