Mia borrowed 5,000 from her grandparents to pay college expenses. She pays them $125 each month, and simple interest at an annual rate of 5% on the remaining balance of the loan at the end of each year.

asked Dec 16, 2018 199k views

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25×12=300 for the year
5000-300=4700

5%×4700=235
235÷25=9.4

Gadildafissh answered Dec 21, 2018

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