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Blake1053 Blake1053
  • 01-02-2017
  • Business
Answered

$1500 at 12% interest for two years

Verified Answer :

mun52022
mun52022 mun52022
  • 01-02-2017

1500.122= $360 in interest
Total 1860 by the end of 2 years

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mckennasage
mckennasage mckennasage
  • 01-02-2017

First, convert 12% into a decimal. 12/100 = 0.12
15000.12 = 180. 1500+180 = 1680.
so it's 1,680 the first year.
1,6800.12 = 201.60
 1,680 + 201.60 = 1881.6
so 1,881.60 the second year!

So answer is, $ 1,881.60

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