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A bank offers a home improvement loan with simple interest at an annual rate of 12% j.t. borrows $14000 over a period of 3 years.how much will he pay altogather

A bank offers a home improvement loan with simple interest at an annual rate of 12% j.t. borrows $14000 over a period of 3 years.how much will he pay altogather
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a bank offers a home improvement loan with simple interest at an annual rate of 12% j.t. borrows $14000 over a period of 3 years.how much will he pay altogather

User Max Gasner
by
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1 Answer

2 votes
Interest = PRT/100
I= 14000*0.12*3
I=5040

Add Interest to the Principal
14000 + 5040
= $19,040
A is the answer.
User Xavier Vega
by
8.0k points
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