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What is the annual interest on a 5,000 loan with a simple interest rate of 6%

What is the annual interest on a 5,000 loan with a simple interest rate of 6%
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What is the annual interest on a 5,000 loan with a simple interest rate of 6%

User Kabstergo
by
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1 Answer

1 vote

Answer:$50.00

Step-by-step explanation:Each monthly interest is $4.17 so you muiltiply is by 12 and get $50.00 annually

User GSite
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