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18 August, 08:08

If I have a loan of £650 and pay interest of 4% for one year. A) how much interest do I pay? B) how much do I pay back in total? C) how much do I pay per month?

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  1. 18 August, 10:55
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    A) You pay £650 * 0.04 = £26 interest.

    ? B monthly payment = (650 + 26) / 12 = £56.33
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