Business

Lizeth Lozano

14 May, 11:56

A business owner has two loans from the local bank. One of the loans is a three-year loan with a principal of $75,000 and an annual interest rate of 5%. The other is a one-year loan with a principal of $21,000 and an annual interest rate of 4.5%. What is the simple interest total for both loans for the first year?

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