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3 September, 12:38

Miguel borrows $2000 for 3 years at 8% simple interest.

How much will he have to pay altogether to pay off the loan, including interest?

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  1. 3 September, 14:39
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    Interest+original=amount to pay off

    intrest=prinicpal times rate times time

    interest=2000 times 3 times 0.08

    interest=480

    so total is 2000+480 or 2480 to pay off
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