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Joe borrowed $4,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 3 years?

Joe borrowed $4,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 3 years?
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1 vote
Joe borrowed $4,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 3 years?

User Amin Memariani
by
7.9k points

2 Answers

12 votes

Answer:

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User Hyemi
by
7.8k points
5 votes

Answer:

$840

Explanation:

4000 x .07= 280

280 x 3 = 840

User PintoDoido
by
7.4k points
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