You decide to open a small business in the Bronx. You borrow $15,000 from the bank at an annual interest rate of 7% for 24 months. What is the amount of interest you will pay on this loan?

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asked Oct 21, 2022 121k views

10 votes

You decide to open a small business in the Bronx. You borrow $15,000 from the bank at an annual interest rate of 7% for 24 months. What is the amount of interest you will pay on this loan?

Mathematics
middle-school

Zvyn asked

by Zvyn

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2 Answers

5 votes

Answer:

15000x2x7/100 = 210

Explanation:

UXE answered Oct 22, 2022

by UXE

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11 votes

Answer:

$2,100 interest

Explanation:

15,000×7% = 1,050

1,050×2 = 2,100

Qloveshmily answered Oct 26, 2022

by Qloveshmily

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