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borrowed $1,300 from a credit union for 4 years and was charged simple interest at a rate of 2.95%. What is the amount of interest he paid at the end of the month?
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4 votes
borrowed $1,300 from a credit union for 4 years and was charged simple interest at a rate of 2.95%. What is the amount of interest he paid at the end of the month?

User Penu
by
5.1k points

1 Answer

3 votes

Explanation:

1 300 × 2.95/100× 4 = $153.40

User TheAlse
by
5.1k points
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