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A loan charges simple interest at an annual rate of 4.2%. After 6 years, by what percentage has the original debt increased?​
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5 votes
A loan charges simple interest at an annual rate of 4.2%. After 6 years, by what percentage has the original debt increased?​

User Ganzolo
by
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1 Answer

6 votes

Explanation:

Total interest is .042 * amount * 6 = .252 * amount

so 25.2 percent

User Akousmata
by
8.5k points
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