Question: If $12,700 was borrowed at 10.5% simple interest. How much will the interest be for 5 years? If $11,200 which was borrowed at an annual

 If $12,700 was borrowed at 10.5% simple interest. How much will the interest be for 5 years?


If $11,200 which was borrowed at an annual interest rate for 17% must be repaid in 6 months.What is the total amount to be paid at the end of 6 months?

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To calculate the interest for the first scenario we can use the simple interest formula Interest Pri... View full answer

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