tylerkrobinson5469 tylerkrobinson5469

08-07-2021
Mathematics

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You borrow $25,000 to buy a boat. The simple interest rate is 4%. You pay the loan off after 10 years. What is the total amount you paid for the loan?

Respuesta :

ymichael469 ymichael469

08-07-2021

Answer:

$35000

Step-by-step explanation:

A = P(1+rt)

A = 25000*(1+4%*10)

A = 35000

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