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Sam borrowed $3,000 for 4 years at a 5% annual interest rate. How much interest will Sam owe?

Sam borrowed $3,000 for 4 years at a 5% annual interest rate. How much interest will Sam owe?
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Sam borrowed $3,000 for 4 years at a 5% annual interest rate. How much interest will Sam owe?

User Rexroxm
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1 Answer

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5%x3000=150. The annual fee is $150. After 4 years, he would owe 600
User LudoZik
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