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Joe borrowed $8,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 4 years?

Joe borrowed $8,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 4 years?
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Joe borrowed $8,000 from the bank at a rate of 7% simple interest per year. How much interest did he pay in 4 years?

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User Yoohoo
by
7.6k points

1 Answer

2 votes

Answer:

2240

Explanation:

7% of 8000 is 560, and 28% of 8000 is 2240. 560 x 4 is also 2240.

answered
User Amir Kaftari
by
8.5k points
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