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In order to start a small business, a student takes out a simple interest loan for $4000.00 for 6 months at a rate of 11.25%.
In order to start a small business, a student takes out a simple interest loan for $4000.00 for 6 months at a rate of 11.25%.
a. How much interest must the student pay?
b. Find the future value of the loan.
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