Ian borrows $3580 at 31% simple interest per year. When Ian pays the loan back 7 years later, how much interest does Ian pay?

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Gan asked Mar 10, 2023

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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?

Mathematics
middle-school

Gan asked Mar 10, 2023

by Gan

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15 votes

Answer:

$1,109.80

Explanation:

$3580 times 31% = 1,109.80+ 3580 = $4,689.80

Samuel Barbosa answered Mar 12, 2023

by Samuel Barbosa

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9 votes

Answer: $1,109.80

Explanation:

$3580 times 31% = 1,109.80+ 3580 = $4,689.80

Spencer Easton answered Mar 15, 2023

by Spencer Easton

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