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Ian borrows $3580 at 31% simple interest per year. When Ian pays the loan back 7 years later, how much interest does Ian pay? *!The answer is not $1,109.80 i tried it was the incorrect answer..*
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Ian borrows $3580 at 31% simple interest per year. When Ian pays the loan back 7 years later, how much interest does Ian pay?

*!The answer is not $1,109.80 i tried it was the incorrect answer..*

User PDani
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1 Answer

5 votes

Answer:

$7768.6

Explanation:

multiply 3580 by 0.31 (31%) and then multiply that by 7 to give you 7768.6

User NilsH
by
5.2k points
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