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23-11-2020
Mathematics

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The following information is known about a loan.

Time = 4 years
Interest rate = 3.1%
Original amount of loan = $1,200

What amount of simple interest will be paid on the loan?
$37.20
$148.80
$1,051.20
$1,348.80

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Respuesta :

23-11-2020

Answer:

B

Interest = principal*rate*time

= 1200*0.031*4 = 148.80

Step-by-step explanation:

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