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karinadiaz141 karinadiaz141
  • 27-01-2017
  • Mathematics
Answered

If you borrow $1,700 at 7% simple interest, how much interest will you pay

A $7.00

B $1819

C $119

D 120

Verified Answer :

Bamf Bamf
  • 27-01-2017

i think the correct answer it is D

Answer Link
CrazyKauaiBird CrazyKauaiBird
  • 27-01-2017

Write an equation. 1700 is your starting rate. 1.07 is your interest (1 is no increase). If you do it for one month

1700(1.07)^1 = 1819

You will pay $119 or C

Answer Link

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