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8. One of your friends needs $33.00 in cash right now and agrees to sign an IOU saying they will pay you back $3.50/ month

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8. One of your friends needs $33.00 in cash right now and agrees to sign an IOU saying they will pay you back $3.50/ month for the next 12 months to complete the obligation. Calculate the amount of interest (\$) you made by initially loaning the $33 compared with the amount you received back at the end of the one year period

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