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21 October, 14:12

If Melanie borrowed $1000 from the bank for 4 years at 2% simple interest, how much will she owe in interest at the end of the 4 years?

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  1. 21 October, 14:42
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    2% of 1000 = $20

    $20 x 4 = $80

    She will owe $80 in interest at the end of 4 years.
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