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26 July, 15:09

Paula Purchaser borrowed $500 at 12 percent for one year. She paid a $25 processing fee.

The interest paid will be?

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  1. 26 July, 15:34
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    I = (p) (r) (t)

    I = (525) (.12) (1)

    I=63

    You have to add the $500 and the $25 first

    The t will always be in years
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