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15 March, 05:15

Tom borrowed $2,000 at an 11.5% simple interest rate for 5 years. What is the total amount Tom will pay back at the end of 5 years?

A $1,150

B $2,050

C 2,230

D. 3,150

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Answers (2)
  1. 15 March, 05:27
    0
    A $1,150 that would be the answer
  2. 15 March, 05:35
    0
    The total amount will be A. 1,150.

    11.5 x 2000 x 5

    .115 x 2000 x 5 = 1150
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