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4 votes
Your best friend has offered to loan you $3300 to buy a car. They say they will only

charge you 2.5% interest compounded semi-annually. You have 2 years to pay your
friend off. How much did this $3300 loan really cost you (what is the amount of
interest you will pay)?

1 Answer

7 votes
Around 1200 would be the answer
User Hongfeng
by
8.1k points
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