Thompson Auto Repair Shop needed to take out a line of credit for 4 months. They...
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Thompson Auto Repair Shop needed to take out a line of credit for 4 months. They borrowed $50,000 at a simple interest rate of 12%. What amount of interest did the company pay on the line? Thompson Auto Repair Shop needed to take out a line of credit for 4 months. They borrowed $50,000 at a simple interest rate of 12%. What amount of interest did the company pay on the line?
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