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17 August, 17:48

Nigel borrows $250 pays 5.5%simple interest each year. if he pays back the money in on year what is the total amount that he pays

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  1. 17 August, 18:11
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    I = P x R x T

    I = 250 x. 055 x 1

    I = 13.75

    I + P = Total amount paid

    $250 + $13.75 = Total amount paid

    $263.75 = Total amount paid
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