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Find the interest paid on a loan

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Reference no: EM131622941

Question: 1. Find the interest paid on a loan of $38,000 for one year at a simple interest rate of 10.5%

2. A loan of $17,500 for six years has a simple interest rate of 7.75%. Find the interest.

3. The 7th Inning borrowed $6,700 at 9.5% simple interest for three years. How much interest is paid?

Reference no: EM131622941

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