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Sarah borrows $1600 from a bank with 8% simple interest per year . How much will she have to pay back in 2 years
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Sarah borrows $1600 from a bank with 8% simple interest per year . How much will she have to pay back in 2 years

User Natix
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1600*.08 is the yearly interest which is 128. Over two years it will accumulate 256 dollars in interest resulting in a total of 1600+256=1856.
She will need to pay back 1856 dollars in two years.
User Karim
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