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Rita borrows $500 at an annual rate of 8.25% simple interest to enrol in a driver's education course. She plans to repay the loan in 18 months.

Rita borrows $500 at an annual rate of 8.25% simple interest to enrol in a driver's education course. She plans to repay the loan in 18 months.
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Rita borrows $500 at an annual rate of 8.25% simple interest to enrol in a driver's education course. She plans to repay the loan in 18 months.

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User Narwanimonish
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8.7k points

1 Answer

2 votes
$500X(1.0825+0.04125)=$561.875
answered
User Kaushal Kumar Singh
by
9.2k points
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