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Janet borrowed $2,000 for three years at a 5 percent interest rate compounded annually. Use the simple interest formula to find out how much interest she will pay each year
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Janet borrowed $2,000 for three years at a 5 percent interest rate compounded annually. Use the simple interest formula to find out how much interest she will pay each year

User Slugsie
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Every year, Janet will pay $100 in interest per year.

$500 over 5 years.
User Edgar Santos
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