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6 August, 10:13

Gerry is borrowing money from a friend at a simple interest rate of 4%. If she borrows $2000 and plans to pay it back in 2 years, how much interest will she owe?

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  1. 6 August, 13:08
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    I = prt

    I = 2000 x 2 x. 04

    Interest is $160

    Total it'll be $2160
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