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11-03-2021
Mathematics

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the simple interest rate on a loan for $3009 is 6% for 2 years. how much total interest will you have to pay

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aidenb2022 aidenb2022

11-03-2021

Answer:

Simple Interest Formula

step 1: multiply the given principal sum P, interest rate R in percentage & time period in years together. step 2: for yearly interest payable, divide the result of above multiplication (P x R x T) by 100 gives the simple interest.

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