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Ginger borrowed $550 to purchase software and a camera. The simple interest rate is 8% per year. How much will she save if she pays off the loan in two and a half years instead of three and half years?
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Ginger borrowed $550 to purchase software and a camera. The simple interest rate is 8% per year. How much will she save if she pays off the loan in two and a half years instead of three and half years?

User Vikas Raturi
by
4.3k points

1 Answer

5 votes

Answer:

44$

Explanation:

8% of (550 US$) =

44 US$

User Matt Goddard
by
3.6k points
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