Mr. Kim borrows $3000 to pay for house repairs . The simple interest is 8% for one year.

Niek Tuytel asked Jul 17, 2022

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Niek Tuytel asked Jul 17, 2022

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19 votes

Answer:

$240

Explanation:

Simple interest on a loan is the interest that would be paid on a loan

Simple interest = principal x interest rate x time

$3000 x 0.08 x 1 = $240

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