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damon convinced his aunt to lend him $2,800 to purchase a digital tv. he has agreed to charge only 7 percent simple interest, and he has agreed to repay the loan at the end of one year. how much interest
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damon convinced his aunt to lend him $2,800 to purchase a digital tv. he has agreed to charge only 7 percent simple interest, and he has agreed to repay the loan at the end of one year. how much interest will he pay for the year?

User Andrew Lewis
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1 Answer

3 votes

Answer:

Interest = $224

Step-by-step explanation:

7% of 2,800 is equal to 2,800 - 92%.

Making the interest rate $224 for the year.

User Jordan Bonitatis
by
8.6k points
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