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12) Suppose you borrow $3300 for a term of four years at simple interest and 12.5% APR. How much is the total (principal plus interest) you must pay back on the loan? A) $1650.00 B) $495.00 C) $4950.00 D) $346.50 E) $3465.00

12) Suppose you borrow $3300 for a term of four years at simple interest and 12.5% APR. How much is the total (principal plus interest) you must pay back on the loan? A) $1650.00 B) $495.00 C) $4950.00 D) $346.50 E) $3465.00

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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12) Suppose you borrow $3300 for a term of four years at simple interest and 12.5% APR. How much is the total (principal plus interest) you must pay back on the loan? A) $1650.00 B) $495.00 C) $4950.00 D) $346.50 E) $3465.00
Transcribed Image Text:12) Suppose you borrow $3300 for a term of four years at simple interest and 12.5% APR. How much is the total (principal plus interest) you must pay back on the loan? A) $1650.00 B) $495.00 C) $4950.00 D) $346.50 E) $3465.00
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