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18 July, 00:57

Dave has a three-year college plan loan for $10,000. the lender charges a simple interest rate of 6%. How much interest will he have to pay?

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Answers (2)
  1. 18 July, 01:00
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    Simple Interest = Principle * time * rate

    10000 * 3 * 6% = 1800
  2. 18 July, 01:18
    0
    The interest he will have to pay is: 0.06*10000=600

    The interest he will have to pay is $600
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