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4 November, 01:08

Margo borrows $100, agreeing to pay it back with 6% annual interest after 6 months. How much interest will she pay.

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  1. 4 November, 01:41
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    Okay so she paid 100 dollars. There is 6 percent every month.

    100*0.06=6

    So, after 1 year it will be at 106 dollars ...

    But, we are looking for 6 months which is half of the year.

    6/2=3 ...

    So she will pay 3 dollars in interest.
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