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29 June, 11:09

Solve the problem.

If $13,000 is borrowed at 5.8% simple interest for 10 years, how much interest will be paid for the loan?

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  1. 29 June, 11:24
    0
    Interest = $7540

    Step-by-step explanation:

    p=$13000

    r=5.8%

    t=10yrs

    i=p*r*t/100

    =13000*5.8*10/1000

    =130*58

    = $7540
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