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14 June, 06:44

If you borrow $12,000 for 30 months at 6.5% simple interest, what is the total amount you will have to repay?

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  1. 14 June, 09:05
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    I = PRT

    I = 12000 x 0.065 x 2.5

    I = 1950

    I + P = total amt borrowed ... 1950 + 12000 = 13,950
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