Question
Fred borrows $40 at 0.8% simple interest per month. When Fred pays the loan back 2 years later, how much interest does
40x0.08x24=76.8
40x0.08x24=76.8
Answers
nope. Read the question carefully.
.08 = 8%
Fred's rate is 0.8%
.08 = 8%
Fred's rate is 0.8%
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