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07-12-2020
Mathematics

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If you take a loan at a bank for 5,000$ at a rate of 5% and for 4 years, how much is the interest? *reminder: convert the % to its equivalent decimal first

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pradipdhamicoc pradipdhamicoc

07-12-2020

I = P×T×R/100

soln I= 5000×5×4/100

Hence I= 50×5×4

therefor I=1000

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