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2 December, 06:29

Eric borrowed $3000 from his dad and agreed to pay his dad back the principal plus a rate of 3% simple interest. How much interest Alex will owe his dad after 2 years?

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  1. 2 December, 06:53
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    To find the answer, you can use I = p*r*t

    Substitute I for interest, p for principle, r for rate, t for time-

    I = p*r*t

    I = 3000 * 0.03 * 2

    I = 180
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