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5 December, 07:21

The following information is known about a loan.

Time = 4 years

Interest rate = 3.1%

Original amount of loan = $1,200

What amount of simple interest will be paid on the loan?

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Answers (2)
  1. 5 December, 07:46
    0
    It is B-148.80
  2. 5 December, 09:12
    0
    Prt divided by 100 = (1,200 x 3.1 x 4) divided 100. Final answer $148.80
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