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Steve borrows $20,000 for a car at an annual interest rate of 8.5% for 5 years. What is the balance of his loan?
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Steve borrows $20,000 for a car at an annual interest rate of 8.5% for 5 years. What is the balance of his loan?

User Tonisives
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1 Answer

2 votes
8.5 x 5= 42.5 aka $42,500
User Abdessamad Doughri
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