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Question

If you borrow $7500 at $400 interest for once a year, what is your annual interest cost for the following payment plan?
Annual payment?
Semi annual payment?
3 years ago

Answers

mathhelper
This question makes no sense to me.

You just told me the interest for one year is $400, and then you ask
what the annual interest cost is.

Is this simple or compound interest?
3 years ago

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