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Mr.Jefferson took out a loan for 15,000 at 12% annual simple interest.If it takes him 5 years to repay the loan how much will he repay?

Mr.Jefferson took out a loan for 15,000 at 12% annual simple interest.If it takes him 5 years to repay the loan how much will he repay?
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mr.Jefferson took out a loan for 15,000 at 12% annual simple interest.If it takes him 5 years to repay the loan how much will he repay?

asked
User Idbentley
by
8.1k points

1 Answer

2 votes

Answer:

In 5 years, you will have $26,435.13 to re-pay.

Explanation:

answered
User John Zhao
by
8.5k points
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