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Gertrudis768 Gertrudis768
  • 30-05-2014
  • Mathematics
Answered

Jeff bought a refrigerator for $1300. He made a 10% down payment and financed the rest at 6% for one year. How much interest did he pay?

Verified Answer :

Edmund
Edmund Edmund
  • 31-05-2014

\(Interest=Principal*Rate*Time\)

\(Interest=1300*0.06*1\)

\(Interest=78\)

Jeff paid a total of $1,378.00 with an interest rate of 6% per annum

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Dannymal
Dannymal Dannymal
  • 31-05-2014

1300 x 0.06 x 1 = 78
1300 + 78 = 1378
$1378

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