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20 March, 18:10

To finance her community college education, Sarah takes out a loan for $3700. After a year Sarah decides to pay off the interest, which is 5 % of $3700. How much will she pay?

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  1. 20 March, 19:44
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    So, to solve this, we use this equation:

    3700 + 0.05 (3700)

    But, if we want to make it shorter:

    1.05 (3700)

    Now you just multiply (you may want to use a calculator)

    1.05 (3700) = 3885

    She will pay $3885
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