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A bank loans a customer $65,000 for a period of 12 years. The simple interest rate of the loan is 8.5%. What is the amount of simple interest?

A bank loans a customer $65,000 for a period of 12 years. The simple interest rate of the loan is 8.5%. What is the amount of simple interest?
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A bank loans a customer $65,000 for a period of 12 years. The simple interest rate of the loan is 8.5%. What is the amount of simple interest?

User Rodrigolece
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1 Answer

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The simple interest is $5,525.
User IanTimmis
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