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10 July, 17:41

The following information is known about a loan.

Time = 4 years

Interest rate = 3.1%

Original amount of loan = $1,200

What amount of simple interest will be paid on the loan?

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Answers (2)
  1. 10 July, 20:23
    0
    Prt divided by 100 = (1,200 x 3.1 x 4) divided 100. Final answer $148.80
  2. 10 July, 21:15
    0
    It is B-148.80
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