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15 October, 22:53

Damon convinced his aunt to lend him $2,000 to purchase a plasma digital TV. She has agreed to charge only 6 percent simple interest, and he has agreed to repay the loan at the end of one year. How much interest will he pay for the year?

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  1. 16 October, 01:20
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    120$ will be paid as interest at the end of the year

    Explanation:

    because Simple interst = Principa amount of loan x rate / 100

    2000x6/100=120 $
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