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11 January, 01:07

Find the interest of a $2,500 loan, with an interest rate of 7% compounded annually over

a 6 year period.

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Answers (1)
  1. 11 January, 01:54
    0
    Interest = Principle (Rate) (Time)

    2500 (.07) (6) = 1050

    The interest will be $1,050
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