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Diana takes a loan of $10,000 on 3% interest rate. She plans to pay the loan off after 2 years. Calculate the simple interest.
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Diana takes a loan of $10,000 on 3% interest rate. She plans to pay the loan off after 2 years. Calculate the simple interest.

User Astravagrant
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1 Answer

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Interest = $600.00

$10,000 × 0.03 × 2 = $600.00

you would now owe $10600.00
User PicxyB
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