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30 October, 05:23

Diana takes a loan of $10,000 on 3% interest rate. She plans to pay the loan off after 2 years. Calculate the simple interest.

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  1. 30 October, 08:16
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    Interest = $600.00

    $10,000 * 0.03 * 2 = $600.00

    you would now owe $10600.00
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