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Popular >

if you borrow 250 dollars for 6 years at an annual interest rate of 11% what is the total amount of money you will pay back?

Solution

if you borrow 250 dollars for 6 years at an annual interest rate of 11% what is the total amount of money you will pay back?

Solution

Amount : 415

Solution steps

Translate the problem into an equation:

A = 250 (1 + 0.11 \cdot 6)

250 (1 + 0.11 \cdot 6) = 415

Amount : 415

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