The third year interest and the total interest paid over the life of a loan. Introduction: The total sum of interest that is due for a particular time is the interest rate . The rate of interest can be due for a time as a proportion of the sum borrowed or deposited and as the proportion of the sum lent.

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Chapter 6, Problem 55QP

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To calculate: The third year interest and the total interest paid over the life of a loan.

Introduction:

The total sum of interest that is due for a particular time is the interest rate. The rate of interest can be due for a time as a proportion of the sum borrowed or deposited and as the proportion of the sum lent.

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