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08-05-2017
Mathematics

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Miguel borrows $2000 for 3 years at 8% simple interest.
How much will he have to pay altogether to pay off the loan, including interest?

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apologiabiology apologiabiology

08-05-2017

interest+original=amount to pay off

intrest=prinicpal times rate times time
interest=2000 times 3 times 0.08
interest=480

so total is 2000+480 or 2480 to pay off

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