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19 May, 14:52

Time=6 years intrest rate=2.7% original amount of loan=$1,250 what amount of sinple interest will be paid on the loan

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  1. 19 May, 16:27
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    Simple interest formula: I=prt

    t=6yrs

    p=1250

    r=2.7%

    I=prt

    I = (1250) (.027) (6)

    I=202.50

    Simple interest paid will be $202.50
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