A loan of $5000 is taken at a simple interest rate of 9% per annum. How much int

Practice Questions

Q1
A loan of $5000 is taken at a simple interest rate of 9% per annum. How much interest will be paid after 2 years?
  1. $900
  2. $800
  3. $700
  4. $600

Questions & Step-by-Step Solutions

A loan of $5000 is taken at a simple interest rate of 9% per annum. How much interest will be paid after 2 years?
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