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A business takes out a simple interest loan of $10,000 at a rate of 7.5%. What is the total amount the business will repay if the loan is for 8 years?
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A business takes out a simple interest loan of $10,000 at a rate of 7.5%. What is the total amount the business will repay if the loan is for 8 years?

User Yaniv De Ridder
by
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1 Answer

5 votes

Answer:

93.75 per year

Explanation:

hope this helps

User Aravind Krishnakumar
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