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You barrow $500 from your parents to buy a new computer. your parents charge 3% simple interest and give you two years to repay the money.

a) hoW much interest did you pay on the loan ?

4 answers

I = PRT

I = 500 * 0.03 * 2

what is the amount of money that you owe your parents?

The answer is 30

square dont lie

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