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7 May, 12:58

Simple interest = P * r * t Dave has a three-year college loan for $10,000. The lender charges a simple interest rate of 6 percent. How much interest will he have to pay? $600 $1,800 $900 NextReset

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  1. 7 May, 16:36
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    I = PRT

    P = 10,000

    R = 6% ... = 0.06 ... u have to put it in decimal form

    T = 3

    I = (10,000) (0.06) (3)

    I = $ 1800 < = = = this is the interest that Dave has to pay
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