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Find the total amount due on a loan of $650 at the annual simple interest rate 5% at the end of 6 months

Find the total amount due on a loan of $650 at the annual simple interest rate 5% at the end of 6 months
asked 192k views
4 votes
Find the total amount due on a loan of $650 at the annual simple interest rate 5% at the

end of 6 months

asked
User Ssarabando
by
7.9k points

1 Answer

2 votes

Answer:

$666.25

Explanation:

Use the equation A = P(1 + rt)

P=16.25

$650+$16.25=666.25

answered
User Gromo
by
8.1k points
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