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Kaylee borrows 700 dollars from her dad to buy a new phone. She has to pay him back in 2 years with a 2% simple intrest rate. How much interest will she have to pay?
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Kaylee borrows 700 dollars from her dad to buy a new phone. She has to pay him back in 2 years with a 2% simple intrest rate. How much interest will she have to pay?

User Jakub Linhart
by
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1 Answer

7 votes

The interest she will have to pay is $28.

User Constantant
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