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Jose borrowed $20,000 dollars to buy a new speed boat. The interest rate on his loan was 5 percent. He will pay it back in three years. How much interest will he pay? What will be the total amount he'll pay for the boat including interest? PLEASE HELP :)

Respuesta :

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20,000 * .05 = 1,000       1,000 * 3 = 3,000        20,000 + 3,000 = 23,000             Hope This helps :)

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