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Joanna wants to buy a car. Her parents loan her $5,000 for 5 years at 5% simple interest. How much will Joanna pay in interest?

Joanna wants to buy a car. Her parents loan her $5,000 for 5 years at 5% simple interest. How much will Joanna pay in interest?
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Joanna wants to buy a car. Her parents loan her $5,000 for 5 years at 5% simple interest. How much will Joanna pay in interest?

User Marcus Wichelmann
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I= Prt I= 5000*0.05*5 I= $1,250 So she will pay $ 1,250 in interest . I hope that's help !
User Leoger
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