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5 poir The simple interest rate on a loan of $5,000 is 3% annually. What is the total interest that will be paid in 5 years? * $150.00 $750.00 O $1,500.00 $7,500.00
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5 poir

The simple interest rate on a loan of $5,000 is 3% annually. What is the
total interest that will be paid in 5 years? *
$150.00
$750.00
O $1,500.00
$7,500.00

User Vidura Silva
by
4.5k points

1 Answer

0 votes
Answer - 750

The math is just 5,000x.03 to get 150 which is interest per year, after that I just did 150x5 to get 750.
User Serge Kuharev
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4.5k points
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