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1 August, 07:44

You borrow $1200 to buy a piano. the simple interest rate is 12%. you pay off the loan after 4 years. how much do you pay for the loan?

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Answers (2)
  1. 1 August, 09:09
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    The answer is 1200 + 576 = 1776
  2. 1 August, 10:08
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    S. I = PTR/100

    SI = 1200*4*12 / 100

    = 576

    amount = 1200 + 576 = 1776
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