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Rita has a loan of $45,580. This loan has a simple interest rate of 4% per year. What is the amount of interest that Rita will be charged on this loan at the end of one year?

Rita has a loan of $45,580. This loan has a simple interest rate of 4% per year. What is the amount of interest that Rita will be charged on this loan at the end of one year?
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Rita has a loan of $45,580. This loan has a simple interest rate of 4% per year. What is the

amount of interest that Rita will be charged on this loan at the end of one year?

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User Eric Nguyen
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8.3k points

1 Answer

2 votes
Take the loan amount and multiply by 4%
45580*0.04= 1823.20
answered
User Alex Spera
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8.9k points
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