Joe borrowed $4,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 8 years? In 8 years, Joe pays $ in interest.

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asked Feb 26, 2021 152k views

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Joe borrowed $4,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 8 years?

In 8 years, Joe pays $
in interest.

Mathematics
middle-school

Jlcv asked

by Jlcv

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2 Answers

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He payed 2,560$ in 8 years

Drew answered Feb 28, 2021

by Drew

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joe pays $2240 of interest in 8 years

Utsikko answered Mar 2, 2021

by Utsikko

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