Question

Find the amount paid for the loan.
$1500 at 9% for 2 years
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Answer 1

principal=1500

rate=9%=0.09

time=2

I=1500 times 0.09 times 2

I=1500 times 0.18

I=270

interest=270

total is 1500+270=1770 total paid

Explanation: