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8 March, 11:05

Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?

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  1. 8 March, 11:45
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    Simple interest

    you can charge it monthly or yearly

    find 4% and multiply by how many months or years

    4% of 900=

    0.04 times 900=36

    that is each time the interst is added

    if it is monthly, (6months so) 6 times 36=216

    if it is yearly (6months=1/2year so) 6 times 1/2=3

    if it is taken monthly, then Sam earns $216

    if it is taken yearly, then Sam earns $3
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