jamarqus2040 jamarqus2040

29-03-2022
Mathematics

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Ms. Lee takes out a loan to start a business. She borrows $5,000 of a simple annual interest rate of 6. 5% for 5 years. What is the total amount of interest Ms Lee must pay

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mcas3509 mcas3509

31-03-2022

Answer:

A = $6,625.00

Step-by-step explanation:

A = P(1 + rt)

A = 5000(1 + (0.065 × 5)) = 6625

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