If you borrow $700 for one year at an interest rate of 8% p.a, how much interest will you pay every month?

asked Dec 18, 2022 97.3k views

2 votes

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2 votes

Answer:

$4.7 (approx)

Explanation:

Simple interest = (principle * time * rate) / 100

Gsc answered Dec 23, 2022

by Gsc

4.2k points

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