You repaid a loan plus interest with a single payment of $5,000 at the end of 15
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Question:
You repaid a loan plus interest with a single payment of $5,000 at the end of 15 months.If the lender charged 8%simple interest,how much of is the interest?
a)
$2,727.27
b)
$454.55
c)
$500.00
d)
$480.61
e)
$1,000.00
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