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lolverdtlauda lolverdtlauda
  • 18-02-2016
  • Computers and Technology
Answered

Find the simple interest Jay owes on a five-year student loan of $48,000 with an annual interest rate of 5%.

$2,400

$60,000

$120,000

$12,00

Verified Answer :

Anonymous Anonymous
  • 18-02-2016

Use the equation I=prt where interest = principal times rate times time.

Fill it out, it becomes I= 48000(.05)(5)

I= 12000

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