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Using 12 percent simple interest per year, how much interest will be owed on a loan of $500 at the end of two years?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Using 12 percent simple interest per year, how much interest will be owed on a loan of $500 at the
end of two years?

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